HAIXI PHARMA (02637) rose more than 4%. At the time of writing, the stock was up 3.8%, trading at HK$196.6 with a turnover of HK$28.8643 million.

The company previously announced that its innovative drug project HXP056, which has the potential to become the world's first oral medication for hemorrhagic retinal diseases, has completed patient recruitment for both the Single Ascending Dose (SAD) and Multiple Ascending Dose (MAD) stages of its Phase I clinical trial. HXP056 is expected to overcome several technical challenges, achieving Blood-Retinal Barrier penetration to reach retinal lesions while optimizing systemic exposure to ensure patient safety. It has the potential to be the first oral drug globally for treating retinal diseases, representing not only a significant technological breakthrough but also possessing explosive global market potential.

Huafu Securities noted that developing oral drugs for wAMD is highly challenging, citing the failure of vorolanib in Phase II trials. While Phase II experiments indicated that oral medications could achieve a dose-dependent reduction in anti-VEGF injection frequency, issues with hepatotoxicity were prominent, resulting in an unfavorable risk-benefit ratio for patients during treatment. The brokerage pointed out that preclinical data show HAXI PHARMA's HXP056 significantly inhibits fundus leakage. Preliminary improvements in fundus morphology and retinal function were observed in both treatment-naive and previously treated wAMD patients during Phase I trials. Phase II trials commenced in the fourth quarter of 2025. If successfully launched, HXP056 has the potential to reshape the wAMD treatment landscape.