PEGBIO CO-B (02565) opened sharply higher by nearly 15%, rising 14.94% to HK$72.7 by the time of writing, with a turnover of HK$1.1269 million. The surge follows the company's announcement on November 14 that China's National Medical Products Administration (NMPA) has approved the New Drug Application (NDA) for its core product PB-119.

PegDaCare® (PB-119) is a next-generation long-acting glucagon-like peptide-1 (GLP-1) receptor agonist developed by the company, administered once weekly. The product has been designated as a national Class 1 innovative drug under China's "Major New Drug Innovation" initiative.

Clinical trials from Phase I to Phase III have demonstrated that PB-119 achieves an optimal balance between effective blood glucose control and favorable tolerability, offering a high-efficacy and safe treatment option for Chinese patients with type 2 diabetes. Additionally, PB-119 significantly improves β-cell function and provides comprehensive management of blood pressure, lipids, and body weight, delivering holistic benefits beyond glycemic control.