Jiangsu Hengrui Medicine (SHA:600276) will conduct clinical trials on HRS-2183 for injection after receiving approval from China's National Medical Products Administration, according to a Wednesday disclosure on the Shanghai Stock Exchange.
The drug is intended for the treatment of bacterial infections.
The pharmaceutical company invested 19.4 million yuan into the research and development of the drug, the disclosure said.
Shares of the company rose more than 2% in recent trade.
Price (RMB): ¥52.87, Change: ¥+1.2, Percent Change: +2.30%
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