Shanghai Pharmaceuticals (SHA:601607, HKG:2607) decided to terminate the clinical trial and development of salvianolic acid A for injection, according to a Shanghai bourse filing on Saturday.

The Chinese pharmaceutical company's Hong Kong shares rose 2% during Monday's afternoon trade.

The drug was intended for the treatment of angina pectoris associated with coronary heart disease.

The company said the decision was made to optimize the allocation of funds on projects with "greater strategic advantages".