LAE Pharma-B (02105.HK) Rises Over 5% as Qilu Pharma Advances LAE002 NDA Submission in China

According to the Zhongtong Finance APP, Laekna Therapeutics-B (02105) surged over 5% in the final trading session. As of press time, it rose by 3.83%, trading at HK$13.82, with a turnover of HK$25.91 million.

On the news front, on April 30, Qilu Pharmaceutical officially announced that the innovative targeted drug afuresertib (research code: LAE002), for which it has exclusively introduced China regional R&D and commercialization rights, had reached the primary endpoint in a significant Ib/III phase clinical study when combined with fulvestrant for the treatment of HR+/HER2- advanced breast cancer. Qilu will advance the domestic marketing application in China.

Public information shows that LAE002 is a potent AKT inhibitor independently developed by Laekna Therapeutics. According to the agreement signed between Laekna Therapeutics and Qilu Pharmaceutical, if LAE002 is approved for its first indication in China, Laekna Therapeutics is entitled to receive an upfront payment of 530 million yuan that is non-refundable, along with milestone payments totaling up to 2.045 billion yuan. Additionally, Laekna Therapeutics is entitled to receive sales royalties based on the future net sales of the drug in China, with royalty rates ranging from over ten to twenty percent.