Changes in Hong Kong stocks | The FSGS circuit is back in popularity, and Rebon Pharmaceutical-B (09637) surged by more than 15%. Institutions say it is expected to enter Hong Kong Stock Connect

The Zhitong Finance App learned that on August 5, Rebang Pharmaceutical-B (09637) rose sharply, with an intraday increase of more than 15%. As of press release, it rose 13.07% to HK$33.22, with a turnover of HK$292.12 million.

According to the news, US stock nephrology company Travere Therapeutics announced results for the second quarter of 2026, up about 14% after the market. Its core product, FILSPARI, had net US product sales of US$141.1 million in the second quarter, an increase of 96% over the previous year; the initial performance of FSGs marketing and continued growth in the IgA nephropathy business brought a total of 2012 new patient launches. In April of this year, FILSPARI was approved by the FDA as the first FSGS treatment. This long-lacking nephropathy indication is being repriced by the capital market.

The popularity of FSGS has also made the market re-examine the layout of Libang Pharmaceuticals for the same indications. The company's self-developed AP303 is a dual PPAR agonist. It is positioned as a first-of-its-kind disease-modifying therapy that is expected to slow or stop the progression of CKD. The company holds global rights to cover FSGS, patients with DKD and IgAN hyperproteinuria (basket II phase), and ADPKD (already qualified as an orphan drug by the FDA). AP303 has completed Phase I clinical trials and is expected to advance to Phase II in the second half of the year. Currently, it is at the starting point of realizing clinical value.

It is worth mentioning that CICC recently released a research report stating that the Hang Seng Index announced the results of the review on August 21, which coincides with the semi-annual review of the Hang Seng Composite Index. The bank estimates that 49 stocks are expected to be included in the Hong Kong Stock Connect, including Libang Pharmaceuticals. According to reports, being included in the Hong Kong Stock Connect is beneficial to expanding the company's investor base and potentially increasing the liquidity of H-share trading.