HK Stock Market Move | PegBioPharmaceuticals-B (02565) soared 150% in the final trading day, previously reached an exclusive commercial cooperation agreement with Tianrui Pharmaceuticals for the commercialization of Paidacon in the mainland China.

PegBioMedicine-B (02565) surged 150% in the last trading session, rising by 106.97% to HK$23.16 with a trading volume of HK$784 million as of the time of writing. In terms of news, PegBioMedicine announced in March this year that it had signed a strategic cooperation agreement with Tengrui Pharmaceutical on the commercialization of Pegdakang in mainland China. The two parties established achieving a cumulative sales scale of over RMB 10 billion as the core commercialization goal in the cooperation agreement. According to the agreement, Tengrui Pharmaceutical will pay a total of approximately HK$140 million in equity fees to the company. It is worth noting that on May 12th, FANGZHOU JIANKE and Tengrui Pharmaceutical held a strategic cooperation signing ceremony. After this strategic signing, the innovative GLP-1 drug Pegdakang (Vepenatide Injection) will be launched on the FANGZHOU JIANKE Internet Hospital platform in the near future.