HK Stock Market Move | GENFLEET-B(02595) rose over 7% in early trading, planning to raise approximately HK$470 million in net proceeds from a rights issue to advance core products such as RAS inhibitors.

GENFLEET-B (02595) rose more than 7% in early trading. As of press time, it has risen 1.51% to HK$39, with a turnover of HK$68,350,400. On the news front, Jiangsu (Jin) Medicine plans to issue 13.6 million new H shares, with a subscription price of HK$34.69 per share, a discount of about 9.71% compared to the previous day's closing price of HK$38.42. The net proceeds from the subscription will be approximately HK$467 million, with about 75% of it being used to advance the core product RAS inhibitor and other innovative therapies (including GFH276, GFS202A, and GFS784); about 15% will be used to enhance the company's research and development technology platform; about 10% will be used to supplement operating capital and other general corporate purposes. It is worth noting that recently, Jiangsu (Jin) Medicine announced that GFH375/VS-7375 has entered a phase II overseas study for the treatment of KRAS G12D mutant metastatic pancreatic ductal adenocarcinoma (PDAC), and the first patient has been enrolled. This open-label, multicenter study was designed and promoted by Jiangsu's partner, Verastem Oncology in the United States, exploring first-line combination therapy (combining cetuximab) and single-agent therapy, as well as a second-line combination therapy with cetuximab.