3SBIO (01530) rose more than 9% in afternoon trading. At the time of writing, the stock was up 7.2%, trading at HK$24.7 with a turnover of HK$13.03 billion. The surge follows news that on April 7, the Center for Drug Evaluation (CDE) officially approved two significant clinical indications for the Class 1 new drug PF-08634404 (3SBIO's R&D code: SSGJ-707), which was declared by Pfizer. The approved indications are for first-line treatment of transformed small cell lung cancer in combination with chemotherapy, and for monotherapy or combination therapy in locally advanced or metastatic renal cell carcinoma. Public information indicates that SSGJ-707 is a PD-1/VEGF bispecific antibody developed by 3SBIO. In May 2025, Pfizer secured global development and commercialization rights for the product in a deal valued at over $6 billion, which included a $1.4 billion upfront payment and a $100 million equity investment, setting a record for the largest upfront payment in a single out-licensing transaction for an innovative drug from China. Leveraging Pfizer's clinical resources, the clinical development of SSGJ-707 is progressing efficiently, with three Phase III clinical trials already underway for indications including colorectal cancer and non-small cell lung cancer. Planned Phase III clinical indications also encompass endometrial cancer and urothelial carcinoma.