HK Stock Market Move | LAEKNA-B(02105) increased by nearly 7% and the application for clinical trials of the new drug LAE118 has been accepted by the FDA.

LAEKNA-B(02105) rose nearly 7% in early trading, and as of the time of writing, it has increased by 5.88% to reach HK$14.23, with a turnover of HK$9.34 million. On the news front, on January 14th, Laikai Pharmaceuticals announced that the US Food and Drug Administration (FDA) has accepted the new drug clinical trial application (IND) for LAE118. LAE118 is a new selective PI3K pan-mutation inhibitor developed independently by Laikai, used to treat solid tumor patients with PIK3CA mutations. PI3K mutations are more common in patients with breast cancer, colorectal cancer, lung cancer, endometrial cancer, and other cancers. Currently approved PI3K inhibitors globally are non-selective for mutant types, as they have strong activity against the wild type but poor tolerance and are prone to resistance.