HK Stock Market Move | Pegasus Bio Medicine-B (02565) soars over 11% to HKD 29.32 with cornerstone investors extending lock-up period, demonstrating confidence in development.

PAG Biopharmaceuticals-B (02565) rose more than 11% in the afternoon, rising 11.14% to HK$29.32 by the time of publication, with a turnover of HK$5.8015 million. On the news front, on the evening of April 28th, PAG Biopharmaceuticals announced that cornerstone investors have agreed not to reduce their holdings in any way from the expiration date of the lock-up period (April 30) until May 20. The company believes that the extension of the lock-up period indicates that cornerstone investors are confident in the company's future prospects based on its research and development capabilities in driving technology and significant progress in major clinical milestones. It is worth mentioning that earlier, PAG Biopharmaceuticals gained market attention by having its core pipeline CR059 selected for the Late Breaking Abstract (LBA) at the American Diabetes Association Scientific Sessions, once again drawing focus back to its circRNA-LNP technology platform. As an innovative pharmaceutical company focusing on metabolic diseases, PAG Biopharmaceuticals' attention is not only due to its "LBA selection" but also to the long-acting GLP-1 technology pathway represented by CR059, which is bringing new possibilities to the market.