Shares of ABBISKO-B (HKEX: 02256) have risen by more than 5%. At the time of writing, the stock is up 5.53% to HKD 11.25, with a turnover of HKD 2.5452 million.

The move follows a recent company announcement. Its subsidiary, Shanghai Abbisko Biomedical Technology Co., Ltd. (Abbisko Medical), announced that the Investigational New Drug (IND) application for its oral, high-potency, highly selective small molecule pan-KRAS inhibitor, ABSK211, has been cleared by the U.S. Food and Drug Administration (FDA). The drug candidate is intended for the treatment of patients with advanced solid tumors harboring KRAS gene alterations. The company noted this was a voluntary announcement and stated that the group cannot guarantee ABSK211 will ultimately be successfully approved for marketing.

ABSK211 is a novel, orally administered, high-potency, and highly selective small molecule pan-KRAS inhibitor independently developed by Abbisko Medical. It is designed to target a range of KRAS genetic alterations, including common KRAS mutation subtypes and specific amplification statuses. Preclinical study results indicate that ABSK211 has demonstrated promising anti-tumor activity and favorable selectivity both as a monotherapy and in combination treatment settings, offering potential as a new therapeutic option for patients with solid tumors carrying KRAS gene alterations.