Jacobio Pharmaceuticals Group (HKG:1167) said the US Food and Drug Administration (US FDA) approved its investigational new drug application of its self-developed solid tumor drug JAB-23E73, according to a Monday filing with the Hong Kong bourse.
After getting approval from the Chinese government, the company also plans to initiate a phase I/IIa clinical trial in advanced solid tumor patients.
The medication works by inhibiting KRAS, which is present in 23%-25% of cancer patients.
The pharmaceutical shares were up by almost 2% in recent trading.
Price (HKD): $1.72, Change: $+0.030, Percent Change: +1.78%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.