HK Stock Market Move | LUYE PHARMA (02186) rose more than 3%. The new drug LY03017 has been approved for clinical trials in the United States, intended for the treatment of PDP, among other conditions.

LUYE PHARMA (02186) rose by over 3%, as of the time of writing, it increased by 3.22% to 3.2 Hong Kong dollars, with a trading volume of 28,318.1 million Hong Kong dollars. On the news front, on November 24th, LUYE PHARMA announced that the group's independently developed new generation 5-hydroxytryptamine 2A receptor (5-HT2AR) inverse agonist and 5-hydroxytryptamine 2C receptor (5-HT2CR) antagonist LY03017 has obtained approval from the US Food and Drug Administration (FDA) to conduct clinical trials. LY03017 is intended for the treatment of Alzheimer's disease psychosis (ADP), Parkinson's disease psychosis (PDP), and schizophrenia negative symptoms (NSS). The FDA has exempted the single-dose escalation (SAD) trial phase of its Phase I clinical trial, allowing the drug to proceed directly to multiple-dose escalation (MAD) and subsequent clinical trials. LY03017 is developed based on the group's new molecular entity/new therapeutic entity technology platform, and is another innovative drug in the central nervous system therapy field developed synchronously in China and the United States by the group. Currently, LY03017 is in Phase I clinical trials in China. Currently, there is only one drug globally approved by the US FDA for the treatment of PDP, which has not yet been approved in China; there are no drugs approved for the treatment of ADP domestically or internationally; and only a few drugs are effective for NSS but have suboptimal efficacy. There is an urgent need to meet the treatment demand for the above three indications.