HK Stock Market Move | ABBISKO-B(02256) rose more than 6%. The new generation EGFR inhibitor ABK3376 has been approved for clinical trials.

ABBISKO-B (02256) rose more than 6%, up 5.76% at the time of publication, at 3.49 Hong Kong dollars, with a trading volume of 2.2533 million Hong Kong dollars. On the news front, Heng Yu Medicine announced that its independently discovered new generation EGFR oral small molecule inhibitor ABK3376, developed in collaboration with Shanghai Allist Pharmaceuticals Co., Ltd., has been approved by the National Medical Products Administration of China (NMPA) for the first phase of clinical trials in humans, for the treatment of non-small cell lung cancer with EGFR-C797S resistance mutation. ABK3376 is a highly selective, brain-penetrant new generation EGFR oral small molecule inhibitor that efficiently inhibits the C797S mutation that occurs after resistance to third-generation EGFR TKIs. It is reported that Heng Yu Medicine and Shanghai Allist Pharmaceuticals Co., Ltd. reached a licensing agreement on ABK3376 on March 1, 2023, with Shanghai Allist Pharmaceuticals Co., Ltd. paying Heng Yu Medicine a total initial payment, development and sales milestone payments not exceeding $187.9 million, as well as a royalty fee on the corresponding percentage of net sales.