Sichuan Kelun-Biotech jumps on progress of core product's development

Sichuan Kelun-Biotech Biopharmaceutical

13/03/2024 06:13

** Shares of Chinese drug producer Sichuan Kelun-Biotech
Biopharmaceutical Co Ltd  6990.HK  jump as much as 15.4% to
HK$135.80, highest and biggest one-day gain since March 4
    ** Stock is the biggest gainer in Hang Seng Composite Index
 .HSCI  
    ** Co says its core product SKB264 was recently granted
Breakthrough Therapy Designation by the Center for Drug
Evaluation of the National Medical Products Administration
(NMPA) of China for first-line treatment of breast cancer
    ** Co also warns of the risk that SKB264 may not ultimately
be successfully developed and commercialized 
    ** Hong Kong's healthcare index  .HSCIH  slips 0.8%, while 
Hang Seng Composite Index  .HSCI  rises 0.6% and Hang Seng Index
 .HSI  adds 0.7%
    ** Stock up 30.7% YTD  

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