HK Stock Market Move | ASCLETIS-B (01672) rose more than 10% in early trading, repurchasing 1.3 million shares yesterday. It previously announced a maximum repurchase of HK$300 million.
Songli Pharmaceutical - B (01672) rose over 10% in early trading, up 9.42% as of the time of publication, at 13.01 Hong Kong dollars, with a trading volume of 29.2953 million Hong Kong dollars.
ASCLETIS-B (01672) rose more than 10% in the early trading session, reaching a 9.42% increase at the time of publication, at 13.01 Hong Kong dollars, with a turnover of 29.2953 million Hong Kong dollars.
On the news front, Ge Li Pharmaceuticals announced that on December 3, the company spent 15.9275 million Hong Kong dollars to repurchase 1.306 million shares. It is reported that Ge Li Pharmaceuticals announced in October of this year that the board of directors had decided to exercise the repurchase authorization and buy back shares on the open market as needed, using up to 300 million Hong Kong dollars for the proposed share repurchase.
It is worth noting that Ge Li Pharmaceuticals announced last month that the once-a-month new generation of insulin receptor agonist ASC36 and the once-a-month new generation GLP-1R/GIPR dual-target agonist ASC35 compound entered the clinical development stage. Ge Li Pharmaceuticals expects to submit new drug clinical trial applications for ASC36 and ASC35 compounds for the treatment of obesity to the U.S. FDA in the second quarter of 2026.
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