China's Lepu jumps after FDA grants its cancer drug orphan-drug designation

Lepu Biopharma

15/12/2023 03:55

** Shares of tumor treatment-focused Lepu Biopharma Co Ltd
 2157.HK  jump 8.4% to HK$3.99, their highest since Nov 24, on
the second session of gain
    ** Stock on course for the biggest one-day pct rise since
Sept 20 if gains hold; on track to end the week up 17.3% on
their best week since September 2022
    ** Shanghai-based biopharmaceutical company says its drug
candidate MRG004A for treatment of pancreatic cancer has been
granted the orphan-drug designation by the Food and Drug
Administration (FDA) of the United States  
    ** Says the Orphan-drug Designation will help MRG004A to
enjoy certain incentives for the follow-up research and
development, registration and commercialisation of designated
drugs for the treatment of pancreatic cancer in the United
States
    ** Hong Kong's healthcare index  .HSCIH  climbs 1.9%, Hang
Seng Composite Index  .HSCI  rises 2.9%, Hang Seng Index  .HSI 
adds 3.1%
    ** Stock down 47.3% YTD 

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