CSPC Pharma rises to 7-month high as lung cancer drug gets FDA's Fast Track designation

Shares of CSPC Pharmaceutical Group 1093.HK jump 9.6% to HK$6.51, their highest levels since October 22

Stock on course for a third straight session of gains, if current trend holds

Stock marks the biggest intraday pct gain since April 1 and is third-biggest pct gainer in the Hong Kong's healthcare index .HSCIH, which rises 3%

CSPC says its epidermal growth factor receptor antibody drug conjugate - CPO301 - has been granted the third Fast Track designation by the U.S. Food and Drug Administration (FDA) for the treatment of adult patients with advanced lung cancer

CPO301 is undergoing clinical studies in China and the U.S. and the granting of Fast Track designation by the FDA will facilitate and expedite the development and registration of CPO301 in the U.S. and globally - CSPC

Hang Seng Biotech Index .HSHKBIO rises 3.5%, Hang Seng Index .HSI climbs 1%

YTD, stock up 32.6%