Why Shares of BeiGene Popped Today
BeiGene's (NASDAQ: BGNE) shares were up by more than 13% on Tuesday at 2:50 p.m. ET thanks to a regulatory body in China accepting one of the company's supplemental biologics licensing application filings for a new indication for its drug tislelizumab.
The Center for Drug Evaluation (CDE) will now evaluate whether tislelizumab is sufficiently safe and effective to treat metastatic gastric junction adenocarcinoma in conjunction with chemotherapy for patients whose tumors express the PD-1 biomarker, potentially giving BeiGene the green light for an expansion of its commercialization in China.
If regulators ultimately opt to approve the company's application, it'll be the 10th indication for tislelizumab in China, which speaks to its versatility as a cancer medicine as well as its money-making potential.
Source Fool.com
