CSPC Pharmaceutical Group (HKG:1093) received approval from China's National Medical Products Administration to conduct clinical trials of JMT108 in China.

The indication for this approval is advanced malignant tumors, according to a Wednesday filing with the Hong Kong bourse.

Preclinical studies have demonstrated that the product has a broad variety of indications with significant anti-tumor effects and a good safety profile.

Shares of the drugmaker were up nearly 2% in recent trade.