Mabwell-B (02493) saw its shares surge more than 23%, reaching a record high of HK$31.46. At the time of writing, the stock was up 14.36% to HK$29.14, with a turnover of HK$140 million. The company was officially listed on the main board of the Hong Kong Stock Exchange on April 28 and was included in the Stock Connect scheme on its first trading day, becoming the first 18A company to transition from an A-share to an H-share listing. Since its establishment, Mabwell has successfully advanced four products to market approval and has out-licensed four innovative drug candidates. Its core asset, 9MW2821, is the second globally approved Nectin-4 targeted ADC for urothelial carcinoma and the first worldwide to enter pivotal Phase III trials for cervical cancer and triple-negative breast cancer. Interim analyses for three Phase III trials are expected in the second half of this year, with pre-NDA meetings planned with the Center for Drug Evaluation based on the results. Notably, Mabwell announced that the latest clinical results for 9MW2821 in cervical cancer will be presented in both oral and poster sessions at the 2026 ESMO Gynecological Cancers Congress, scheduled for June 17–19, 2026, in Copenhagen, Denmark.