Stock Track | KEYMED BIO-B Soars on NMPA Approval for Dermatitis Drug Stapokibart

Stock Track09-13

Hong Kong-based biopharmaceutical company KEYMED Biosciences Inc. (02162.HK) saw its stock soar by 6.89% on Thursday after receiving a major regulatory approval for one of its lead drug candidates.

The company announced that China's National Medical Products Administration (NMPA) has granted marketing approval for Stapokibart, an innovative drug used to treat moderate-to-severe atopic dermatitis in adults. This approval opens the door for KEYMED to commercialize and sell Stapokibart in the vast Chinese pharmaceutical market, a significant milestone for the company.

Investors reacted positively to the news, driving KEYMED's stock price up by nearly 7% in intraday trading. Analysts praised the approval as a critical step forward for the company's pipeline, with some raising their price targets and rating recommendations for the stock.

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