Shanghai Junshi Biosciences (HKG:1877, SHA:688180) said its experimental dermatology drug JS005 achieved "positive results" in a phase 3 clinical trial, according to a Hong Kong bourse filing Sunday.

Shares of the biopharmaceutical firm gained over 1% in morning trade Monday.

The drug met its co-primary endpoints and key secondary endpoints in the treatment of moderate to severe plaque psoriasis, a skin condition.

The company now plans to seek regulatory approval of the drug in the near future.