Shares of BOAN BIOTECH (06955) climbed more than 8% in late trading, with the stock last up 7.66% at HK$2.95, recording turnover of approximately HK$2.94 million.

The move comes after the company announced that its investigational PD-1/IL-2 antibody cytokine prodrug, BA1203, has received clinical trial approval from the Center for Drug Evaluation (CDE) of China's National Medical Products Administration, targeting development for the treatment of multiple solid tumors.

According to the company, BA1203 is believed to be the world's only PD-1/IL-2 molecule featuring high-activity IL-2α receptor binding, a masked design, and PD-1 blocking capabilities. With this approval to enter clinical development, BOAN BIOTECH plans to conduct a multicenter, open-label Phase I study evaluating the safety, tolerability, pharmacokinetics, and preliminary efficacy of BA1203 in patients with advanced solid tumors.

The study aims to further validate the drug's advantages in efficacy and safety while exploring both monotherapy and combination treatment pathways, unlocking BA1203's differentiated therapeutic potential in PD-1 target binding, immune pathway blockade, and tumor microenvironment immune activation.