HK Stock Market Move | Zai Lab (09688) rose more than 5%, ZL-1310 received orphan drug designation from the US FDA.

ZAI LAB (09688) rose over 5%, at the time of writing, up 4.75% to 20.95 Hong Kong dollars, with a turnover of 6.3193 million Hong Kong dollars. On the news front, on January 23, ZAI LAB announced that the U.S. Food and Drug Administration (FDA) has granted ZL-1310 orphan drug designation (ODD). ZL-1310 is a highly active DLL3 ADC with first-in-class potential for the treatment of small cell lung cancer (SCLC). ZL-1310 will be eligible for certain development incentives, including waiver of the Prescription Drug User Fee Act (PDUFA) registration fee, tax credits for corresponding clinical studies, and a potential seven-year market exclusivity in the United States upon product approval.