HK Stock Market Move | LAENA-B (02105) morning rose more than 5%, LAE002 phase III clinical trial reached the final stage, will submit application for listing.

Stock code LAEKNA-B (02105) increased by more than 5% in the morning, as of the time of writing, it rose by 5.14% to HK$14.32, with a turnover of HK$1301.07 million. On the news front, the Phase III clinical trial of AKT inhibitor LAE002 (Afuresertib), a core product of Lai Kai Pharmaceuticals for the treatment of breast cancer, announced reaching its primary endpoint on April 15th. According to the company's plan, the partner Qilu Pharmaceutical will submit a new drug application to the National Medical Products Administration in the near future. Qilu Pharmaceutical also announced on April 30th that they will push forward the domestic marketing application for the drug. According to the authorization agreement reached between the two parties, Qilu Pharmaceutical has obtained exclusive rights in China for the clinical research, drug development, production, and commercialization of LAE002, while Lai Kai Pharmaceuticals is responsible for completing the Phase III clinical trial for HR+/HER2- breast cancer (AFFIRM-205). In return, if LAE002 is approved for the first indication in China, Lai Kai Pharmaceuticals has the right to receive a non-refundable initial payment of 530 million yuan and a total milestone payment of up to 2.045 billion yuan.