PEGBIO CO-B Shares Surge Over 11% to HK$29.32 as Cornerstone Investors Extend Lock-Up Period

PEGBIO CO-B (02565) rose more than 11% during afternoon trading. At the time of writing, the stock was up 11.14% to HK$29.32, with a turnover of HK$5.8015 million. On the news front, PEGBIO CO-B announced on the evening of April 28 that cornerstone investors have agreed to voluntarily extend the lock-up period. They will not reduce their holdings in any manner from the original expiry date of April 30 until May 20. The company stated that the extension demonstrates the cornerstone investors' strong confidence in its future prospects, based on its capabilities in advancing technological R&D and significant progress achieved in key clinical milestones. It is noteworthy that PEGBIO CO-B recently gained attention when its core pipeline candidate, CR059, was selected as a Late Breaking Abstract (LBA) at the American Diabetes Association's Scientific Sessions. This has redirected market focus to its circRNA-LNP technology platform. As an innovative drug company specializing in metabolic diseases, the core reason for the heightened interest in PEGBIO CO-B is not merely the LBA selection itself, but also the new possibilities that CR059's ultra-long-acting GLP-1 technology pathway brings to the market.