China's CStone Pharma set for best day in over 7 weeks on new drug application

CStone Pharmaceuticals

02/09/2021 08:07

** Shares of immuno-oncology drugs developer CStone
Pharmaceuticals  2616.HK  jump 9.3% to HK$13.90, the biggest
daily percentage gain since July 12
    ** Stock on track to snap two consecutive sessions of
decline
    ** Shanghai-based company says National Medical Products
Administration of China has accepted its new drug application
(NDA) for sugemalimab as a consolidation therapy in patients
with unresectable stage III cell lung cancer, its eighth
NDA/supplemental NDA submitted by CStone (https://bit.ly/3gX1b1D)
    ** Says CStone has formed a strategic partnership with
Pfizer  PFE.N  that includes development and commercialization
of sugemalimab in mainland China and a framework to bring
additional oncology assets to the Greater China market
    ** Hong Kong's healthcare index  .HSCIH  falls 1.2%
    ** The Hang Seng China Enterprises Index  .HSCE  gains 0.7%
and the benchmark index  .HSI  is up 0.1%
    ** As of last close, the stock had surged 26.2% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))