Shares of Zai Lab Ltd (ASX: ZLAB) have experienced a notable increase, rising over 4% in recent trading.
The company's stock price reached HK$13.07 with a trading volume of HK$156 million.
The positive market movement follows the successful launch and distribution of its first neurology product, KarXT (xanomeline-trospium chloride capsules), also known as Kailuole® in China.
Shipments of the schizophrenia treatment have commenced from Suzhou, reaching hospitals and pharmacies across multiple provinces.
The first prescription for KarXT was issued at Beijing Anding Hospital, part of Capital Medical University, with patients in over 30 cities and nearly 50 hospitals gaining access on the same day.
In a separate development, China's National Medical Products Administration has approved the company's Biologics License Application for Tivdak® (tisotumab vedotin).
This approval is for treating adult patients with recurrent or metastatic cervical cancer whose disease has progressed during or after chemotherapy.
The regulatory decision is based on positive results from the global, randomized, controlled Phase 3 innovaTV 301 clinical trial.
Data from this study, including the Chinese subgroup, demonstrated a statistically significant improvement in overall survival for patients treated with tisotumab vedotin.