Shares of ALEBUND-B (ASX: 09637) surged more than 11% during the morning trading session. At the time of writing, the stock was up 9.62% to HK$30.54, with a turnover of HK$4.20 million.
On June 29th, the company saw simultaneous share purchases by two significant institutional shareholders. Singapore's sovereign wealth fund, GIC, increased its holding by 872,000 shares, involving approximately HK$38.44 million, raising its stake to 7.09%. On the same day, Lilly Asia Ventures (LAV) purchased an additional 450,000 shares, amounting to roughly HK$20.28 million, increasing its ownership to 7.20%.
Combined, the two institutions acquired over 1.32 million shares, investing a total of about HK$58.72 million, demonstrating strong confidence in the long-term value of ALEBUND-B.
Analysts note that the company's core product, AP301, has entered the final stage of preparation for its New Drug Application submission. The commercial launch is anticipated within a 12 to 24-month window following a successful NDA approval.
It has been highlighted that innovation in the chronic kidney disease field has been largely stagnant for decades. ALEBUND-B's AP301, leveraging its iron-based technology platform and robust Phase III clinical data, is positioned to address a significant unmet clinical need in this area if its NDA gains regulatory approval.
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