HK Stock Market Move | ZAI LAB(09688) rises nearly 4% -Positive main results achieved in global Phase 3 China Asian Group study of VeIPDAN single monoclonal antibody

ZAI LAB (09688) rose nearly 4%, up 3.75% as of the time of writing, to HK$19.38, with a trading volume of HK$140.747 million. On the news front, ZAI LAB announced that the main results of the global Phase 3 innovaTV 301 study in Chinese Asian subgroup showed clinically meaningful improvement in overall survival for patients with recurrent or metastatic cervical cancer who had previously been treated, compared to chemotherapy. ZAI LAB plans to submit a new drug application for Pemigatinib in the first quarter of 2025 to the National Medical Products Administration. If approved, ZAI LAB will leverage its commercialization of Niraparib in female tumors to benefit Chinese patients with Pemigatinib. On January 10th, ZAI LAB announced that it had reached an exclusive collaboration and licensing agreement with Vertex Pharmaceuticals Incorporated to develop and commercialize Povetacicept (Pove) in Greater China and Singapore. CICC stated that the company's success in commercializing Aisaimod validates its sales capabilities in the immune-oncology field, therefore the bank holds an optimistic view on the future commercial potential of Pove in China.