HK Stock Market Move | Jiangsu Hengrui Pharmaceuticals (01276) rose nearly 4% in late trading, receiving approval for two clinical trials on the same day, covering psoriasis and stroke prevention.

Jiangsu Hengrui Pharmaceuticals (01276) rose nearly 4% in late trading. As of press time, it was up 3.88% at HK$45.5, with a turnover of HK$153 million. On the news front, on September 15, Jiangsu Hengrui Pharmaceuticals announced that its subsidiary Fujian Shengdi Pharmaceutical's HRS-4139 tablets received clinical trial approval from the National Medical Products Administration, agreeing to conduct clinical trials for moderate-to-severe plaque psoriasis. On the same day, its subsidiary Guangdong Jiangsu Hengrui Pharmaceuticals' recaticimab for injection received clinical trial approval, agreeing to conduct a Phase III clinical trial for the indication of reducing the risk of stroke recurrence in adult patients with intracranial atherosclerotic stenosis. Analysts pointed out that HRS-4139, as a Class 1 new drug targeting psoriasis, a major autoimmune indication, is expected to enter a market worth tens of billions of yuan if clinical data are positive; recaticimab, meanwhile, is expanding from lipid lowering to secondary stroke prevention, a typical approach of extending the same molecule to additional indications, and if the Phase III trial goes smoothly, it will open up new growth space.