Shares of LEPU BIO-B (HKG:2157) surged 5.21% in early trading on Friday, following the announcement that the company's cancer drug study results were selected for presentation at a major oncology conference. The stock's significant uptick reflects investor optimism about the potential of the company's key drug candidate.

Lepu Biopharma revealed that results from its Phase IIb study of MRG003, an antibody drug conjugate targeting recurrent or metastatic nasopharyngeal cancer, have been chosen as a late-breaking abstract for oral presentation at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting. This selection is seen as a notable achievement in the oncology research community and suggests that the study results may be particularly significant or promising.

MRG003 targets the epidermal growth factor receptor (EGFR), which is highly expressed in various cancers, including colorectal, lung, and head and neck cancers. Notably, EGFR is present in 89% of advanced nasopharyngeal cancer cases, highlighting the potential broad applicability of the drug. The innovative design of MRG003, combining an EGFR-targeted monoclonal antibody with a microtubulin inhibitor payload, aims to effectively kill tumor cells after internalization. While Lepu Biopharma cautioned that there is no assurance of successful development and marketing of MRG003, the stock market's reaction indicates that investors are optimistic about the drug's prospects and its potential impact on the company's future.