HLB shares swing after FDA approves Lypictu bile duct cancer drug

  • HLB Group shares retreated from sharp intraday highs after FDA approval of Lypictu.
  • HLB closed at 40,150 won, up 1.13%, after reaching 47,700 won.
  • Elevar plans to launch Lypictu in the United States during the fourth quarter.

HLB Group shares extended their rally for a second session after the U.S. Food and Drug Administration approved Lypictu, a bile duct cancer treatment developed by Elevar Therapeutics, HLB's U.S. subsidiary. HLB closed at 40,150 won on the 29th, up 1.13%, after reaching 47,700 won, or 20.15% above the previous close. HLB Life Science rose as high as 25.99% before ending down 6.61%, while HLB Therapeutics reversed a 14.92% intraday gain to finish down 1.16%. The stocks had hit daily upper limits on the 28th. The approval covers second-line treatment for adults with unresectable, locally advanced or metastatic bile duct cancer involving confirmed FGFR2 gene fusions or rearrangements, and Elevar plans a U.S. launch in the fourth quarter. The earlier topic identified the drug as Lytgobi, while the latest report names it Lypictu. HLB had also been expected to resubmit its liver cancer drug as early as the following month.

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