BUZZ-China's Alphamab Oncology tanks on phase III trial results

Reuters05-29

** Shares of Alphamab Oncology drop as much as 58% to HK$2 - the stock's worst fall since listing, and a record low

** Stock last down 40.8%; biggest pct loser on Hang Seng Composite Index and on the Hong Kong bourse

** Co says a phase III clinical trial for its KN046 therapy - KN046-303 - did not reach the preset statistical endpoint for overall survival

** Co says it cannot guarantee that it will be able to develop and ultimately market KN046 successfully

** KN046 is a therapy to treat advanced unresectable or metastatic pancreatic ductal adenocarcinoma (PDAC)

** Hong Kong's healthcare index drops 2%, Hang Seng Composite Index falls 1.3% and Hang Seng Index down 1.5%

** Stock down 56.9% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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