HK Stock Market Move | LAEKNA-B(02105) rose nearly 5% in the afternoon, the US FDA accepted the clinical trial application for the new drug LAE118.

LAEKNA-B (02105) surged nearly 5% in the afternoon, rising 3.04% to 13.88 Hong Kong dollars at the time of writing, with a turnover of 199.183 million Hong Kong dollars. On the news front, Lai Kai Pharma announced that its new drug, LAE118, which is expected to treat PIK3CA-mutated solid tumors in breast cancer, has been accepted for clinical trial by the U.S. Food and Drug Administration (FDA). The company introduced that LAE118 is a novel PI3K broad mutation selective inhibitor, providing a new therapeutic approach for PIK3CA-mutated solid tumors. The announcement stated that the company will work closely with regulatory authorities to complete the relevant applications. Leveraging its successful clinical development and licensing of LAE002 (afuresertib), the company is committed to providing this precision treatment to cancer patients in need of new treatment options.