Shares of CUTIA-B (02487) advanced more than 3% during Thursday's trading session, last up 3.77% at HK$1.10 with turnover reaching HK$147,400.

The price uptick follows the company's announcement that its CU-40102 formulation, a topical finasteride spray, received market approval from the Macau Special Administrative Region government's pharmaceutical regulatory authority. The newly sanctioned indication targets androgenetic alopecia treatment.

This Macau approval marks another key milestone for CU-40102, which had already secured marketing authorization from China's National Medical Products Administration and the Department of Health of the Hong Kong Special Administrative Region. As a flagship product in the company's hair disorder and care portfolio, CU-40102 is currently being rolled out extensively across mainland China.

The latest regulatory green light is expected to strengthen CU-40102's international expansion strategy, broaden its addressable market, and extend therapeutic benefits to a wider base of patients suffering from androgenetic hair loss.