HK Stock Market Move | ASCENTAGE-B (06855) rose more than 7% with the announcement of clinical results for the treatment of SDH-deficient gastrointestinal stromal tumors using Nalitixumab at the 2024 ESMO Annual Meeting.

ASCENTAGE-B (06855) rose more than 7%, rising 7.16% to HK$35.9 as of the time of writing, with a turnover of HK$5048.82 million. In terms of news, Yasheng Pharmaceuticals recently presented the clinical research results of the company's original type 1 new drug, orelabatinib (trade name: Nalitnib; research and development code: HQP1351), for the treatment of Succinate Dehydrogenase (SDH) deficient Gastrointestinal Stromal Tumors (GIST) in a small oral report format at the 2024 European Society for Medical Oncology (ESMO) annual meeting. Orelabatinib showed sustained clinical efficacy in SDH-deficient GIST and provided a basis for future research on this rare disease. Mechanism of action studies have shown that orelabatinib exerts anti-tumor activity by regulating multiple signaling pathways involved in angiogenesis, apoptosis, proliferation, and survival. In the first half of this year, Yasheng Pharmaceuticals achieved revenues of RMB 824 million, a year-on-year increase of 477%; it also achieved net profit of RMB 163 million, turning losses into profits for the first time. During the period, the commercialization of Nalitnib progressed rapidly, with sales revenue reaching RMB 113 million, a 120% increase compared to the second half of last year and a 5% increase compared to the first half of last year. CICC pointed out that Nalitnib's domestic sales volume is smooth. Nalitnib's new indication for TKI resistance/intolerance in CML-CP is expected to be included in medical insurance coverage in 2025, benefiting more patients.