Jiangsu Hengrui Pharmaceuticals (SHA:600276, HKG:1276) received approval from China's National Medical Products Administration to conduct clinical trials on HRS-4508 tablets, according to a Shanghai bourse filing on Friday.
The drug will be tested as a treatment for advanced solid tumors.
The pharmaceutical company invested 81.8 million yuan into the research and development of the drug.
The company's Hong Kong shares dropped 4%, while Shanghai shares slipped 1% during the morning trade.
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