LAEKNA-B (02105) rose nearly 5% during the afternoon session. At the time of writing, the stock was up 3.04%, trading at HK$13.88, with a turnover of HK$19.92 million.

The company announced that the US Food and Drug Administration (FDA) has accepted the Investigational New Drug (IND) application for LAE118, a new drug with the potential to treat solid tumors with PIK3CA mutations, such as breast cancer.

LAE118 is described as a novel, pan-mutant selective PI3Kα inhibitor, representing a new therapeutic approach for PIK3CA-mutated solid tumors.

The announcement stated that the company will work closely with regulatory authorities to complete the relevant application.

Leveraging its strong and proven track record in clinical development and the out-licensing of LAE002 (afuresertib), the company is committed to providing this precise treatment for cancer patients in need of novel therapeutic options.