REMEGEN (09995) saw its stock soar 5.31% in intraday trading, driven by a series of positive developments for its innovative drug telitacicept. The biopharmaceutical company's shares climbed to HK$93.75, with robust trading volume reaching HK$226 million.

The surge comes on the heels of REMEGEN's announcement that telitacicept, the world's first BLyS/APRIL dual-target fusion protein, has been accepted by China's Center for Drug Evaluation (CDE) for the treatment of primary immunoglobulin A (IgA) nephropathy. Notably, the application has been granted priority review status, making telitacicept the first domestically developed original new drug to seek market approval in the IgA nephropathy field in China.

Adding to the positive momentum, REMEGEN's overseas partner for telitacicept, VorBio, recently appointed Dr. Navid Z. Khan as its Chief Medical Officer. Dr. Khan brings valuable experience in global drug development, particularly in neurology and autoimmune diseases. This appointment has bolstered investor confidence in telitacicept's global development prospects. Huatai Securities maintained a "Buy" rating for both REMEGEN's A-shares and H-shares, citing telitacicept's strong global competitiveness and its potential as a best-in-class treatment for myasthenia gravis and primary Sjögren's syndrome.