[Featured Stock] HLB, Riboceranib Approval for Ovarian Cancer Treatment in China Rises

HLB's anticancer drug, Lenvatinib, for which it holds the patent, is on the rise shortly after the market opened on the 22nd following news that it received approval as an ovarian cancer treatment in China.

As of 9:37 AM on the same day, HLB is trading at 107,800 KRW, up 7,800 KRW (7.80%) from the previous close. The trading volume is 1.36 million shares, with a trading value of 144.5 billion KRW.

The sharp rise is attributed to the news that Lenvatinib, an anticancer drug patented and developed by HLB, has newly been approved in China as a treatment for ovarian cancer.

Accordingly, the company explained that if Lenvatinib receives approval from the U.S. Food and Drug Administration (FDA) next month as a first-line treatment for liver cancer, the possibility of expanding the subsequent global Phase 3 pipeline has increased. Currently, Lenvatinib has been submitted for FDA approval as a first-line treatment for liver cancer in combination therapy with Camrelizumab, an immuno-oncology drug from Antengene Pharmaceuticals.

To date, Lenvatinib has been approved in China as a third-line treatment for gastric cancer (2014), second-line treatment for liver cancer (2020), and first-line treatment for liver cancer (2023), and has recorded cumulative sales exceeding 2 trillion KRW.