Understanding the Market | CSTONE PHARMA-B surged over 9% in early trading as GIC increased its stake in the company for the first time in nearly two months, bringing its shareholding ratio to 6%

CSTONE PHARMA-B rose over 9% in early trading, and as of the time of writing, it is up 6.11%, priced at HKD 7.29, with a transaction volume of HKD 12.048 million. On the news front, according to the latest information from the Hong Kong Stock Exchange, GIC disclosed on October 13 that it has increased its stake in CSTONE PHARMA to 6%. This marks GIC's second significant increase in less than two months—previously, on August 18, GIC had substantially increased its holdings by 80.4 million shares, costing over HKD 630 million. Notably, CSTONE PHARMA announced that the European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion recommending the approval of Sugliatinib monotherapy for the treatment of adult patients with unresectable stage III non-small cell lung cancer (NSCLC) who have PD-L1 expression ≥1%, no epidermal growth factor receptor (EGFR) sensitive mutations or ALK, ROS1 genomic alterations, and have not experienced disease progression after platinum-based chemoradiotherapy (CRT)