LAEKNA-B Shares Surge Over 10% in Afternoon Trading as Qilu Pharmaceutical Advances LAE002 NDA; Company Poised for Upfront and Milestone Payments

Stock News05-11 14:48

LAEKNA-B shares surged over 10% in afternoon trading. As of the latest update, the stock was up 9.63%, trading at HKD 14.8 with a turnover of HKD 60.8913 million. On April 15, the company formally announced that its investigational pipeline LAE002 (afuresertib) in combination with fulvestrant achieved strong positive top-line results in the Phase III clinical trial for HR+/HER2- breast cancer, successfully meeting its primary endpoint. On April 30, Qilu Pharmaceutical officially announced that the clinical study for the innovative targeted drug afuresertib, for which it holds exclusive rights for development and commercialization in China, has also reached its primary endpoint, with Qilu now advancing the New Drug Application domestically. According to the agreement, Qilu Pharmaceutical secures full and exclusive rights for the clinical research, drug development, manufacturing, and commercialization of LAE002 within China, while LAIKENA is responsible for completing the Phase III clinical trial for HR+/HER2- breast cancer. In return, if LAE002 secures its first approval for an indication in China, LAIKENA is entitled to receive a non-refundable upfront payment of RMB 530 million and potential milestone payments totaling up to RMB 2.045 billion.

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