CIRC (01763) surged over 8% again, bringing its year-to-date gains to more than 130%. At press time, the stock rose 7.94% to HK$24.48, with a turnover of HK$13.03 million.

The rally follows news that Novartis AG (NVS) received approval from China's National Medical Products Administration (NMPA) on November 5 for two indications of its radioligand therapy (RLT) drug Pluvicto. Pluvicto is a blockbuster nuclear medicine product under Novartis.

Ping An Securities noted that Pluvicto's approval could further ignite enthusiasm in China's nuclear medicine sector. The firm expects diagnostic nuclear drugs for Alzheimer's disease (AD) to scale up alongside therapeutic drugs, recommending attention to domestic leaders in new radionuclides and targets, such as CIRC.

Notably, on October 31, CIRC launched carbon isotope products, marking a breakthrough in China's high-end stable isotope technology and resolving long-standing supply chain bottlenecks. China has now joined a select group of nations capable of producing high-abundance 13CO gas and carbon-13 urea active pharmaceutical ingredients (APIs). CIRC has solidified its position as a leading player with full control over the breath test product supply chain. The company also commenced construction on the second phase of its stable isotope production base the same day.