Changchun High & New Tech subsidiary secures clinical trial approval for growth hormone drug

Changchun High & New Technology Industry Group announced its subsidiary, Changchun GeneScience Pharmaceutical Co., Ltd., received approval for a domestic clinical trial of GS3-007a dry powder for suspension. This novel oral small-molecule growth hormone secretagogue is intended to treat growth hormone deficiency in children, offering an alternative to existing injectable treatments.

Additionally, Changchun GeneScience Pharmaceutical Co., Ltd. secured clinical trial approval for GenSci140, an innovative bispecific antibody-drug conjugate targeting Folate Receptor Alpha for advanced solid tumors. The company also completed its share repurchase program, buying back 3,894,517 shares for a total of 399,999,400.76 yuan. The repurchased shares will be used for future equity incentive plans or employee stock ownership plans.

These developments underscore the company's commitment to expanding its product pipeline in both pediatric and oncology therapeutics, while also enhancing shareholder value. The company emphasizes the inherent risks in pharmaceutical R&D and will provide updates on the clinical trials as they progress.