HK Stock Market Move | LAEKNA-B(02105) rose more than 5% at the close, Qilu Pharmaceutical will advance the domestic listing application of LAE002.

LAEKNA-B (02105) increased by more than 5% at the close, and as of the time of writing, it was up 3.83%, trading at 13.82 Hong Kong dollars, with a trading volume of 25.91 million Hong Kong dollars. On the news front, on April 30, Qilu Pharmaceutical officially announced that its innovative targeted drug afuresertib (LAE002), for which it has exclusively introduced the research and commercialization rights in China, has achieved the main endpoint in a pivotal Ib/III clinical study for the treatment of HR+/HER2- advanced breast cancer in combination with fulvestrant. Qilu will proceed with the domestic market application. Public information shows that LAE002 is a potent AKT inhibitor developed independently by Lekai Medicine. According to the agreement signed between Lekai Medicine and Qilu Pharmaceutical, if LAE002 is approved for the first indication in China, Lekai Medicine is entitled to receive a non-refundable upfront payment of 530 million yuan and a total of up to 2.045 billion yuan in milestone payments. In addition, Lekai Medicine has the right to receive a share of sales based on the future net sales of the drug in China, with a share percentage ranging from over ten to over twenty percentage points.