HK Stock Market Move | MICOT PHARMA-B (02335) Soars Over 115%, Adopts H-Share Incentive Plan and Seeks to Repurchase No More Than 10% of H-Shares

MICOT PHARMA-B (02335) surged over 115% in morning trading. As of press time, it was up 111.21% at HK$30.9, with turnover of HK$33.2524 million. On the news front, MICOT PHARMA announced that the board has proposed to adopt an H-share incentive plan with a term of ten years from the date of adoption, and will seek shareholder approval at an extraordinary general meeting. Meanwhile, the board is seeking a general mandate to repurchase no more than 10% of the total issued H-shares. Public information shows that MICOT PHARMA focuses on the fields of cardiovascular and cerebrovascular, renal, and metabolic diseases. It has built a pipeline matrix consisting of one core product and six key candidate products, with seven pipeline assets in clinical trials and six filed in both China and the United States. It is one of the domestic enterprises with the largest number of clinical-stage pipeline assets in the field of innovative peptide drugs and leading technology.