On July 13, Luye Pharma rose 5.73% in regular trading, reaching HK$2.03 per share, with turnover of approximately HK$57.92 million. The rally was driven by a confluence of positive developments released in recent weeks.
On July 6, the company completed the early redemption and cancellation of all outstanding principal of its US$180 million 6.25% convertible bonds due 2028, effectively eliminating potential equity dilution pressure. The move followed an earlier completion in June of a new US$180 million 5.25% convertible bond issuance due 2031, successfully refinancing the debt at a lower interest rate and extending maturity by three years.
Additionally, the company's self-developed innovative drug LY03015, a first-in-class dual-target VMAT2 inhibitor and Sigma-1R agonist for tardive dyskinesia, achieved positive Phase 2 clinical results in China, meeting the primary endpoint with a 76.5% response rate at the highest dose — nearly double historical data for current first-line treatments. Zhangshang Securities maintained a Strong Buy rating on the stock following the data readout.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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