Ascentage Pharma’s Olverembatinib Receives Breakthrough Therapy Designation for Ph+ ALL

The latest update is out from Ascentage Pharma Group International ( (HK:6855) ).

Ascentage Pharma announced that its drug olverembatinib has been granted Breakthrough Therapy Designation (BTD) by China’s National Medical Products Administration for the treatment of newly-diagnosed Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL) in combination with low-intensity chemotherapy. This designation, the third for olverembatinib, underscores its potential to address significant unmet medical needs in China, particularly as no TKI has been approved for first-line treatment of Ph+ ALL in the country. The designation is expected to accelerate the drug’s development and review, potentially making it the first TKI approved in China for this indication, which could significantly impact treatment paradigms and improve patient outcomes.

More about Ascentage Pharma Group International

Ascentage Pharma Group International is a biopharmaceutical company focused on developing innovative therapies for cancer, hepatitis B, and age-related diseases. The company is known for its development of olverembatinib, a third-generation BCR-ABL inhibitor, which is co-commercialized in China with Innovent Biologics, Inc.

YTD Price Performance: -17.16%

Average Trading Volume: 3,320,054

Technical Sentiment Consensus Rating: Sell

Current Market Cap: HK$13B

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