BUZZ-CSPC Pharma rises to 7-month high as lung cancer drug gets FDA's Fast Track designation

Reuters
05-20
BUZZ-CSPC Pharma rises to 7-month high as lung cancer drug gets FDA's Fast Track designation

** Shares of CSPC Pharmaceutical Group 1093.HK jump 9.6% to HK$6.51, their highest levels since October 22

** Stock on course for a third straight session of gains, if current trend holds

** Stock marks the biggest intraday pct gain since April 1 and is third-biggest pct gainer in the Hong Kong's healthcare index .HSCIH, which rises 3%

** CSPC says its epidermal growth factor receptor antibody drug conjugate - CPO301 - has been granted the third Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of adult patients with advanced lung cancer

** CPO301 is undergoing clinical studies in China and the U.S. and the granting of Fast Track designation by the FDA will facilitate and expedite the development and registration of CPO301 in the U.S. and globally - CSPC

** Hang Seng Biotech Index .HSHKBIO rises 3.5%, Hang Seng Index .HSI climbs 1%

** YTD, stock up 32.6%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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