AleBund-B (09637) rose nearly 7% in early trading. As of press time, it was up 2.78% at HK$27.4, with a turnover of HK$6.4132 million.

On the news front, AleBund-B recently announced that its engineered recombinant IgA protease AP308 for the treatment of IgA nephropathy has received approval from the U.S. FDA for an investigational new drug application, and the company plans to initiate its first-in-human clinical trial soon. According to the company's announcement, AP308 is the first known IgA protease-based IgAN drug candidate approved to enter clinical trials.

Huatai Securities previously issued a research report stating that regarding the overseas market potential of AP301 and AP306: the company is expected to reach an agreement with a leading overseas renal disease CSO to drive commercial expansion of AP301; and R1 is backed by a top U.S. dialysis chain service provider, and we are bullish on its mature patient network driving commercial expansion of AP306; although AP303 and AP308 are still in early clinical stages, both molecules are innovative. In particular, if AP308 can be validated to achieve functional cure of IgA nephropathy, it is expected to unlock a broader IgA nephropathy market.