On June 5, Kelun-Biotech rose 3.08% at open, trading at HKD 402.2 per share, with trading volume of HKD 40,200.

On the news front, the company announced on June 4 a proposal to seek shareholder approval at its annual general meeting on June 29 to authorize the board to repurchase up to 10% of its issued H shares. The buyback plan signals management confidence and is viewed as a positive catalyst to repair market sentiment. Additionally, the company's core product luconsatuzumab reported Phase III results in an oral presentation at ASCO with simultaneous publication in The Lancet, while bispecific ADC SKB571 received NMPA approval for a Phase II clinical trial in a new indication.

The stock had previously been under pressure due to widening net losses to RMB 382 million despite 6.5% revenue growth, as well as consecutive share disposals by the chairman from May 26 to 28 totaling approximately 257,300 shares. The buyback proposal and continued pipeline advancement appear to have helped stabilize investor confidence following the recent sell-off.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)