Shares of LEPU BIO (HKEX: 02157) experienced a significant surge of over 13% in morning trading. By the time of writing, the stock had risen 12.57% to HK$4.03, with a trading volume of HK$36.31 million.

The upward movement follows the presentation of promising Phase I clinical trial data for MRG006A at the 2026 ASCO meeting. The data, from a study involving patients with advanced liver cancer who had failed standard treatments, was reported to be highly favorable.

MRG006A is entering the liver cancer therapeutic area, a field where no ADC drug has yet gained global approval. This positions it as a novel, underexplored pathway that has already demonstrated initial success in crossing the clinical validation threshold. This progress suggests the candidate has the potential to become a groundbreaking, first-in-class ADC project from China with significant business development prospects.

Analysts have previously noted that MRG006A is the first GPC3-targeting ADC in China to enter clinical trials and the first globally to reach the clinical stage, indicating its first-in-class potential. The GPC3 target is highly expressed in 70% to 80% of hepatocellular carcinoma cases and is closely linked to poor prognosis factors like tumor growth and invasion. It is considered a prime target for precisely targeting liver cancer cells, providing a solid foundation for the precise therapeutic approach of MRG006A.