Sichuan Kelun-Biotech Biopharmaceutical (SKB BIO-B) saw its shares surge 7.36% in the intraday session on Wednesday, outperforming the broader market. The rally was fueled by the company receiving marketing authorization from China's National Medical Products Administration (NMPA) for its breast cancer drug.

The approved drug, sacituzumab tirumotecan (sac-TMT), is designed to treat advanced or metastatic triple-negative breast cancer (TNBC) in adult patients who have already undergone at least two prior systemic therapies, including one for advanced or metastatic disease. The drug targets TROP2 using an antibody-drug conjugate and is intended for TNBC cases that cannot be surgically removed.

The positive regulatory development has bolstered investor confidence in SKB BIO-B's prospects, as the company can now commercialize the breast cancer drug in China's sizable healthcare market. Analysts will be closely monitoring the drug's market performance and potential revenue contribution to the company's financials.