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SHA:688180

5 stories mentioning SHA:688180

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Asia

Hong Kong Stocks Decline Amid Tech Selloff; Shanghai Junshi Biosciences Slips on Oncology Venture

Hong Kong stocks fell Monday as a technology-led selloff gathered pace after stronger-than-expected U.S. jobs data and renewed military tensions between Israel and Iran weighed on sentiment.The Hang Seng Index shed 1.2%, or 304.89 points, to close at 24,657.06, while the Hang Seng China Enterprises Index lost 1.1%, or 95.27 points, to finish at 8,341.36.The robust U.S. jobs report prompted traders to increase bets on a Federal Reserve rate hike later this year, triggering a selloff in technology stocks.Markets are now pricing in a 72% probability of a rate hike by December, according to CME Group's FedWatch tool.Meanwhile, Israel and Iran exchanged strikes for the first time since their ceasefire took effect, raising fresh doubts about the durability of the truce.The escalation came after U.S. President Donald Trump said Sunday that renewed military action by either side would not derail Washington's peace talks with Tehran.Brent crude rose more than $4 a barrel on Monday, extending gains as renewed hostilities heightened concerns over regional stability.Shanghai Junshi Biosciences (HKG:1877, SHA:688180) closed 3% lower after saying it will contribute intellectual property and pre-clinical oncology assets to a newly established joint venture, Shanghai OnTarget Biopharmaceuticals, in exchange for a 14.55% stake.

Hang SengHKG:1877SHA:688180
Asia

Junshi Biosciences Takes Stake in Oncology JV via Asset Contribution

Shanghai Junshi Biosciences (HKG:1877, SHA:688180) plans to contribute intellectual property, pre-clinical research assets, and related technology rights to a newly formed oncology-focused joint venture, according to a Friday Hong Kong bourse filing.In return, the biotech company will receive a 14.55% stake in the venture, Shanghai OnTarget Biopharmaceuticals.The contributed assets were valued at about 53.1 million yuan, with the joint venture issuing 250,000 yuan of new registered capital to Junshi as consideration.Junshi expects to record an unaudited gain of about 52.1 million yuan upon completion of the transaction.The joint venture is developing multi-specific antibody and antibody-conjugate technologies for oncology treatments.Hong Kong-listed shares of the firm were down more than 2% in Monday's late-morning trade.

HKG:1877SHA:688180
Asia

Junshi Biosciences Drug Meets Main Goal of Lung Cancer Study

Shanghai Junshi Biosciences (HKG:1877, SHA:688180) said its cancer therapy toripalimab met the main goal of a phase 3 study in lung cancer, according to a Tuesday filing with the Hong Kong bourse.The company's shares fell over 3% in late morning trade Wednesday.Based on the final analysis of the trial, the drug met the primary endpoints of event-free survival and major pathological response in subjects with stage II-III non-small cell lung cancer, the firm said.The company now plans to seek regulatory approval to expand the drug's coverage from perioperative treatment of patients with resectable stage III non-small cell lung cancer to those with stage II-III of the disease.

HKG:1877SHA:688180
Asia

Junshi Biosciences Gets Nod for New Indication for Toripalimab; Shares Down 4%

Shanghai Junshi Biosciences (HKG:1877, SHA:688180) received a drug registration certificate from China's National Medical Products Administration for a new indication for toripalimab, according to a Hong Kong bourse filing on Thursday.The pharmaceutical company's Shanghai shares dropped by less than 4%, while Hong Kong shares fell by less than 2% during Friday's morning trade.The drug, which trades as Tuoyi, will be allowed for the treatment for HER2-expressing locally advanced or metastatic urothelial carcinoma in combination with disitamab vedotin, an antibody drug conjugate developed by RemeGen (HKG:9995, SHA:688331).

HKG:1877HKG:9995SHA:688180SHA:688331
Asia

Junshi Biosciences' Shareholder Keeps Stake After Sale Plan Lapses; Shares Jump 5%

Shanghai Junshi Biosciences (HKG:1877, SHA:688180) said a major shareholder did not sell any shares as its reduction plan expired, according to an April 10 Hong Kong bourse filing.Hong Kong-listed shares of the firm were up nearly 5% in Monday midday trade.Shanghai Tanying Investment, which held about 5.8% of the company, had planned to reduce up to 2% of its stake between January and April.

HKG:1877SHA:688180