LAEKNA-B (02105) saw its share price surge more than 9% in early trading on Thursday, with the stock last changing hands at HK$7.005, marking a gain of 9.37%. Trading volume has reached approximately HK$10.244 million during the session.

The sharp uptick follows the company's announcement on September 1, confirming that it has commenced patient recruitment for a Phase I clinical trial evaluating LAE118 in patients with advanced solid tumors, and the first participant has already been enrolled at sites in China.

In a related development, the group entered into an exclusive licensing agreement with Vasque Bio, Inc. in June 2026. Under the terms of the agreement, the company is entitled to receive aggregate payments of up to $527 million in non-refundable, non-creditable upfront and milestone payments. Additionally, the company is eligible for tiered sales royalties ranging from single-digit to double-digit percentages, calculated on future net sales of LAE118 within the licensed territory.

Furthermore, the group holds the right to receive up to a high double-digit percentage of Vasque Bio's issued ordinary shares at no additional consideration, or alternatively, a cash payment in lieu of such shares. Should Vasque Bio complete a qualifying strategic partnership or acquisition transaction tied to the use of LAE118, the company would be entitled to additional payments of up to 50% of the value of that strategic transaction.