China's Ascletis Pharma jumps most in 11 months on U.S. patent for product

Ascletis Pharma

20/12/2022 04:00

** Shares of Chinese biotech company Ascletis Pharma Inc
 1672.HK  soar as much as 28.3% to HK$4.44, set for the biggest
daily pct rise since Jan 3, if gains hold
    ** Stock hit the highest since April 21; second biggest pct
gainer on the Hong Kong bourse
    ** Ascletis says it has received the Notice of Issuance from
the United States Patent and Trademark Office for the patent
application of its oral viral inhibitor ASC10, its derivatives
and their uses to treat virus infections including SARS-CoV-2,
monkeypox and respiratory syncytial virus  urn:newsml:reuters.com:*:nFWN3380AN
    ** Zhejiang-based company says issue date of the patent will
be January 3, 2023 and the patent issuance will extend
commercial protection for ASC10 and its derivatives and their
uses until 2042
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
1.6% and the healthcare index  .HSCIH  slips 0.3%
    ** The Hang Seng Composite Index  .HSCI  declines 1.3% and
the Hang Seng Index  .HSI  eases 1.2%
    ** As of last close, the stock had gained 5.2% this year
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))