XUANZHUBIO-B (02575) surged over 9% in late trading, reaching a record high of HK$71.6. By the time of writing, the stock was up 6.41% at HK$69.7, with a turnover of HK$38.59 million.

The rally follows the company's announcement late last month that its licensed product NG-350A, obtained from clinical-stage oncology firm Akamis, has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for treating locally advanced rectal cancer (LARC) with proficient mismatch repair (pMMR). XUANZHUBIO-B holds exclusive rights for the development, production, and commercialization of NG-350A in Greater China.

Additionally, from October 30 to November 3, China's National Healthcare Security Administration conducted negotiations for the 2025 National Reimbursement Drug List (NRDL) and pricing discussions for innovative drugs under commercial insurance. XUANZHUBIO-B's palbociclib tablets successfully passed the preliminary review, and inclusion in the NRDL would be a significant milestone for the product.