On July 8, Hengrui Medicine rose 3.6% in regular trading, trading at HK$61.6/share with turnover of HK$62.06 million. The rally was driven by the company's announcement that its subsidiary Suzhou Shengdia Biopharmaceutical received approval from China's National Medical Products Administration to conduct clinical trials of SHR-4685 injection as monotherapy in advanced solid tumors.

SHR-4685 is a proprietary innovative anti-tumor drug with no similar products approved anywhere globally. Cumulative R&D investment in the project stands at approximately RMB 19.4 million. The company cautioned that commercialization remains subject to completion of clinical trials and subsequent regulatory review, with inherent uncertainty. The approval adds to a series of recent pipeline catalysts, including a Phase III trial greenlight for its CTLA-4 antibody SHR-8068 combination regimen in hepatocellular carcinoma and a new perioperative NSCLC indication for its PD-L1 inhibitor. The broader pharmaceuticals sector also strengthened, with CSPC Pharmaceutical up 1.91% and Hansoh Pharmaceutical up 2.76%.

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