KEYMED BIO-B (02162.HK) shares are soaring 5.17% in Thursday's trading session, following the company's announcement of its annual results for 2024 and updates on its pipeline products. The biotechnology firm's strong performance and significant advancements in its drug development programs have evidently boosted investor confidence.

One of the key highlights from the annual results is the success of Keymed's lead product, Stapokibart (CM310), an IL-4Rα antibody. The company reported that Stapokibart received three new drug approvals from China's NMPA in 2024 for the treatment of moderate-to-severe atopic dermatitis in adults, chronic rhinosinusitis with nasal polyposis, and seasonal allergic rhinitis. Notably, Stapokibart generated approximately RMB40 million in revenue within just three and a half months of its launch, demonstrating strong market acceptance.

Keymed also reported progress across its broader pipeline. The company's Claudin 18.2 ADC (CMG901/AZD0901), partnered with AstraZeneca, is advancing in multiple clinical trials for various cancer indications. Additionally, Keymed's CD38 antibody (CM313) showed promising results in treating immune thrombocytopenia, with data published in The New England Journal of Medicine. The company also made strides with its TSLP x IL-13 bispecific antibody (CM512), BCMAxCD3 bispecific antibody (CM336), and other pipeline candidates, initiating or advancing several clinical trials.

These developments showcase Keymed Biosciences' strong execution in bringing innovative therapies to market and advancing its pipeline, which likely explains the positive market reaction to its annual results announcement.