Shares of SBP GROUP (01177) climbed nearly 5% during Tuesday's morning session, with the stock last trading up 4.47% at HK$5.50, on turnover of HK$154 million.

The rally follows the announcement that the company's subsidiary, Chia Tai Tianqing, has received a default clearance from the U.S. Food and Drug Administration (FDA) to proceed with clinical trials for its self-developed innovative GPC3-targeted antibody-drug conjugate (ADC), TQB6426, which is intended for the treatment of advanced malignant tumors.

With this approval, TQB6426 has now secured clinical access in both China and the United States, two of the world's largest pharmaceutical markets, marking a significant step forward in the company's global expansion of its innovative drug pipeline.

In a related development, Chia Tai Tianqing also announced that its independently developed bispecific ADC drug, TQB2102, designed for the treatment of HER2-low expressing recurrent or metastatic breast cancer, has met its pre-specified primary endpoints in a Phase III clinical trial, as determined by an independent data monitoring committee.

This achievement makes TQB2102 the first drug of its kind globally to successfully complete a Phase III study, potentially enabling more precise treatment for breast cancer patients and offering a new therapeutic option for those with specific molecular subtypes of the disease.