Shares of BAO PHARMA-B (ASX: 02659) rose sharply during the morning trading session. At the time of reporting, the stock was up 9.01% to HK$17.9, with a turnover of HK$19.52 million.

The upward movement follows the company's recent announcement that the New Drug Application for its self-developed product, KJ103 for injection, has been accepted by the National Medical Products Administration. The application has also been included in a priority review procedure. KJ103 is intended for the desensitization treatment of highly sensitized kidney transplant patients.

KJ103 is reported to be the first IgG-degrading enzyme in China to have an NDA submitted and the first low-immunogenicity IgG-degrading enzyme globally to have completed Phase III clinical studies. It is expected to provide a superior solution and a more effective medication for highly sensitized kidney transplant therapy.

Analysts have noted that BAO PHARMA-B's differentiated product portfolio is beginning to yield results. The company's unique subcutaneous delivery platform and synthetic biology platform are seen as establishing a solid technological barrier, with value being continuously unlocked through diverse partnership models.

It is understood that the company's first product, the long-acting follicle-stimulating hormone SJ02, received market approval in August 2025, with the first batch of orders delivered in November, marking the firm's official entry into the commercialization phase. Its core product, recombinant human hyaluronidase KJ017, was approved on March 31, 2026.