Ligand Pharma rises as Chinese partner gets approval for lung cancer drug

CStone Pharmaceuticals

22/12/2021 19:09

** Shares of biotech co Ligand Pharmaceuticals  LGND.O  up
~2.6% at $155
    ** Co's partner CStone Pharmaceuticals  2616.HK  receives
approval from China's health regulator (NMPA) for the antibody
drug, sugemalimab, to treat non-small cell lung cancer (NSCLC)
in combination with chemotherapy  urn:newsml:reuters.com:*:nBw4xyKC5a 
    ** NSCLC is the most common type of lung cancer
    ** Sugemalimab is also being tested to treat a type of
cancer that begins in white blood cells called lymphocytes and,
for treating gastric cancer and esophageal cancer
    ** In August, LGND's other China-based partner Gloria
Biosciences received NMPA's approval for the drug zimberelimab,
to treat a type of cancer originating in the lymphatic system, a
part of body's immune system  urn:newsml:reuters.com:*:nBwWg7HHa 
    ** LGND shares trading above their 50-, 150- and 200-day
moving average price
    ** Including session moves, stock had risen ~55% YTD 

 (Reporting by Oishee Majumdar in Bengaluru)
 ((oishee.majumdar@thomsonreuters.com;))