Shares of LONGBIO-B (01779) have risen more than 6%. At the time of writing, the stock is up 6.56% to HK$161, with a trading turnover of HK$22.92 million.

The move follows a recent company announcement stating that the Phase III clinical trial for LP-003 targeting seasonal allergic rhinitis has met its pre-specified primary endpoint. The results are reported to be statistically and clinically significant.

This Phase III study for the seasonal allergic rhinitis indication is a multicenter, randomized, double-blind, placebo-controlled trial conducted in China. It aims to compare the efficacy of LP-003 against a placebo in treating moderate-to-severe seasonal allergic rhinitis patients who have responded inadequately to standard therapy.

Analysts note that LP-003 has the potential to address multiple indications. Regulatory approvals for investigational new drug applications and/or the initiation of related clinical trials are expected for various conditions, including seasonal allergic rhinitis, chronic spontaneous urticaria, allergic asthma, chronic rhinosinusitis with nasal polyps, and food allergies.

Furthermore, preliminary Phase II clinical data for LP-003 has shown potential advantages over omalizumab. According to industry data, the LP-003 200mg Q8W dosing group demonstrated significant superiority over omalizumab in the primary efficacy measure, specifically the proportion of patients achieving a Urticaria Activity Score over 7 days of zero at week 12, as well as in the least squares mean change from baseline in the UAS7 score at week 12.