BUZZ-HK-listed Laekna hits 10-month peak on Eli Lilly deal

Reuters2024-11-20
BUZZ-HK-listed Laekna hits 10-month peak on Eli Lilly deal

** HK-listed shares of Laekna 2105.HK soar 37.2% to HK$14.54, highest since Jan. 11

** Stock set for biggest one-day pct rise since April 15

** Chinese biotech firm enters into agreement with Eli Lilly LLY.N to accelerate global clinical development of LAE102, used to treat obesity

** Under the deal, Lilly will fund and execute LAE102's phase I study in the U.S., while Laekna will retain the drug's global rights

** Hong Kong's healthcare index .HSCIH up 2.8%, while Hang Seng Index .HSI slips 0.1%

** Stock trims YTD losses to 32.3%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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