MABWELL-B (02493) saw its shares rise more than 23% during early trading, reaching a peak of HK$31.46, marking a new record high since its listing. At the time of writing, the stock was up 7.22% to HK$27.32, with a turnover of HK$184 million.

On April 28, MABWELL-B officially began trading on the main board of the Hong Kong Stock Exchange and was included in the Stock Connect scheme on its first day, becoming the first A-to-H share company listed under Chapter 18A. Since its establishment, the company has successfully advanced four products to market approval and has out-licensed four innovative drug candidates.

The company's core asset, 9MW2821, is the second globally approved Nectin-4 targeted ADC for urothelial carcinoma and the first worldwide to enter pivotal Phase III clinical trials for cervical cancer and triple-negative breast cancer indications. Three Phase III clinical trials are expected to undergo interim analysis in the second half of this year. Based on the results, the company plans to submit a pre-NDA meeting request to the Center for Drug Evaluation (CDE).

Notably, MABWELL-B announced that it will present two latest clinical study results for its Nectin-4 targeted ADC innovative drug, 9MW2821, in cervical cancer at the 2026 European Society for Medical Oncology Gynecological Cancers (ESMO GC) Congress. The presentations will take place in Copenhagen, Denmark, from June 17–19, 2026, in both oral and poster formats.