HK Stock Market Move | ALEBUND-B (09637) opens over 6% higher, plans to repurchase H shares on the open market with total amount not exceeding HK$100 million.

ALEBUND-B (09637) opened over 6% higher. As of press time, it is up 6.70% at HK$18, with a turnover of HK$1,027,800. On the news front, Alebund Pharmaceuticals announced that the company's board of directors has resolved to repurchase the company's H shares from time to time on the open market of the Stock Exchange under the general mandate approved at the extraordinary general meeting, with a total amount not exceeding HK$100 million. The company intends to fund the share repurchase with its own financial resources. It is worth noting that Peking University Hospital recently announced that the clinical trial application for the new-generation AP308/PKU308 developed jointly by its Department of Nephrology and Alebund Pharmaceuticals for the treatment of IgA nephropathy has been approved by the U.S. FDA and will soon enter the first-in-human clinical research stage. On September 28, the application for AP308 for injection by Shanghai Alebund Pharmaceuticals Technology Co., Ltd. was accepted by the Center for Drug Evaluation of the National Medical Products Administration.