HK Stock Market Move | JACOBIO-B(01167) rose more than 7% during trading hours as the company sold non-core projects and focused on the core pipeline of innovative cancer drugs.

JACOBIO-B (01167) rose more than 7% during the day, closing up 6.12% at HK$7.8 by the time of publication, with a turnover of HK$23.9374 million. In terms of news, JACOBIO announced it had signed a capital increase and equity transfer agreement with Seasun Capital and an industrial cooperation partner. According to the agreement, Seasun Capital will pay RMB 125 million as the initial payment and RMB 75 million as milestone payments to acquire 80% of the equity of JACOBIO's subsidiary JACO Reikang. After the completion, JACOBIO's stake in JACO Reikang will decrease to 10%. The announcement stated that the transaction aligns with the group's strategic focus on key pipeline products targeting different critical cellular pathways in oncology (including KRAS, MYC, P53, and tumor immunity), optimizing capital allocation, ensuring the development of core oncology pipeline products, achieving strategic focus, enhancing organizational efficiency, and retaining future value through risk-sharing models. The consideration for the equity transfer (after deducting various taxes and expenses) is intended for the research, development, production, and commercialization of the company's Pan-KRAS inhibitor and other innovative oncology projects.