Shares of REMEGEN (HKEX: 09995) experienced a significant intraday rally, climbing more than 5% at one point during the trading session. As of the latest update, the stock was up 3.78%, trading at HK$71.3, with a turnover of HK$258 million.

The upward movement follows a major regulatory development. On June 8th, the company announced that its internally developed, first-in-class BLyS/APRIL dual-target fusion protein drug, Telitacicept (RC18), received approval from China's National Medical Products Administration (NMPA) for two new indications: Sjögren's Syndrome and IgA Nephropathy.

This approval marks a significant milestone, as Telitacicept becomes the first globally approved biologic for the treatment of Sjögren's Syndrome. Furthermore, it heralds a new era of precision therapy for IgA Nephropathy. With these latest approvals, Telitacicept now boasts a total of five approved indications in China, which also include Systemic Lupus Erythematosus, Rheumatoid Arthritis, and Generalized Myasthenia Gravis.