Shares of LEPU BIO (02157) have surged more than 7%, extending a monthly gain of nearly 30%. At the time of writing, the stock is up 6.01% to HK$4.94, with a turnover of HK$32.62 million.

The catalyst for the move is the formal acceptance of the clinical trial application for MRG007 by the Center for Drug Evaluation (CDE) of the National Medical Products Administration in May. This marks a crucial step in the company's clinical development for gastrointestinal cancer, potentially offering a new treatment option for millions of patients with advanced disease in China.

Analysts note that MRG007, a key pipeline asset for which LEPU BIO secured a landmark $1.2 billion overseas licensing deal, represents a significant milestone in its global development. With its differentiated technological advantages, MRG007 has the potential to become a best-in-class (BIC) drug candidate. This progress is expected to solidify the company's leading position in the ADC (antibody-drug conjugate) field for gastrointestinal cancer and lay a solid foundation for future global multi-center clinical trials and potential further business development collaborations.