Movement Alert|BeOne Medicines Rises 3.35% in Regular Trading, Brukinsa Phase 3 Positive Data and Sector Rally Lift Shares

Market Focus07-02

On July 2, BeOne Medicines (06160.HK) rose 3.35% in regular trading, trading at HK$175.2/share, with turnover of HK$535 million. The stock was supported by a dual catalyst of key clinical data and broad sector strength.

On the news front, the company announced on June 30 that Brukinsa (zanubrutinib) achieved positive results in the Phase 3 MANGROVE study evaluating the BTK inhibitor combined with rituximab versus bendamustine plus rituximab for first-line treatment of adult mantle cell lymphoma (MCL). The study met its primary endpoint of progression-free survival, demonstrating a 43% reduction in disease progression or death risk (HR=0.57; p<0.0001). This is the first Phase 3 study to advance a chemotherapy-free standard in first-line MCL treatment. The company plans to file for global regulatory approval in the second half of the year.

Meanwhile, the biotech sector rallied broadly, with 3SBIO up 10.6%, AKESO up 8.8%, SKB BIO up 8.57%, and INNOVENT BIO up 8.04%, providing additional momentum. A prior short-term headwind from a RMB 446 million tax supplementary payment disclosed on June 26 has been largely absorbed by the market.

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