HK Stock Market Move | XTALPI (02228) rose more than 4% in early trading, and received a second payment of $19 million in cooperation with DoveTree.

XTALPI (02228) rose by over 4% in the morning session, as of the time of writing, it has risen by 3.73% to HK$8.35, with a trading volume of HK$65.0841 million. On the news front, XTALPI has announced that the collaboration progress between the group and DoveTree is ideal, with excellent performance in pipeline R&D data with vast commercial value potential. One of the pan-cancer driving high-value assets has already entered the pre-IND-enabling research phase, showing clear target intervention effects and excellent selectivity in preliminary biological activity verification. As of the date of this announcement, the group has received the second payment of $19 million under the final agreement, and both parties will further cooperate in the agreed difficult-to-treat drug target areas, promoting R&D work including molecule glues, and accelerating the clinical transformation of candidate drugs. It is reported that by the end of June 2025, Shenzhen XtalPi and DoveTree have entered into a final agreement. Under the terms of the final agreement, the group is eligible to receive up to a potential total of $5.89 billion in regulatory milestone payments and commercial milestone payments, as well as potential single-digit percentage points of annual net sales-based royalties.