Mabwell-B (02493) saw its shares rise nearly 5% in the afternoon session. At the time of writing, the stock was up 3.54%, trading at HKD 27.52 with a turnover of HKD 33.26 million.

The increase follows the company's announcement that the U.S. Food and Drug Administration (FDA) has approved the clinical trial application for its self-developed novel antibody drug, 9MW5211, for the treatment of Inflammatory Bowel Disease (IBD).

Furthermore, clinical trial applications for 9MW5211 targeting multiple indications, including IBD and Multiple Sclerosis (MS), have already been accepted for review by China's National Medical Products Administration (NMPA).

9MW5211 is reported to be the world's first candidate drug targeting its specific mechanism to enter the clinical stage.