PEGBIO CO-B's stock price surged 18.91% during intraday trading on Tuesday, marking a significant upward movement for the pharmaceutical company.

The sharp rise follows the company's announcement that its cornerstone investors have voluntarily agreed to extend their lock-up period. These investors will not reduce their holdings from the original expiration date until a later date, a move the company states reflects their strong confidence in PEGBIO's future prospects. This confidence is reportedly based on the firm's capabilities in advancing technological research and development and achieving important clinical milestones.

Analysts have highlighted PEGBIO as one of the few domestic enterprises with the capability to independently produce pharmaceutical-grade polyethylene glycol raw materials and integrate them throughout the drug development process for chronic diseases. The company has built a diversified product pipeline by focusing on innovative molecular entities, which combines clinical value with patient benefits.