Kintor Pharmaceutical (HKG:9939) said a mid-stage study of its alopecia drug had met its primary goal, according to a Hong Kong bourse filing Thursday.
Shares of the pharmaceutical jumped over 3% in recent morning trade.
Results from the study demonstrated that subjects who applied the company's KX-826 1% tincture experienced significantly more hair growth when compared to the placebo group after 24 weeks of treatment.
The medicine was also found to have an "excellent" favorable safety profile, Kintor said.
The trial enrolled 90 male adult subjects in China with androgenetic alopecia, a condition that causes hair loss.
Based on the results, an independent monitoring committee recommended the company continue with an ongoing phase 3 study of the drug.
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