Understanding the Market | FSGS track heats up again, ALEBUND-B surges over 15% as institutions indicate it is expected to enter the Hong Kong Stock Connect
On August 5th, ALEBUND-B's stock price surged over 15%. Driven by the performance of US stock Travere Therapeutics and the heightened interest in the FSGS sector, the market is reassessing ALEBUND's layout in the FSGS field. Its core product AP303 is expected to delay the progression of CKD. In addition, a report from CICC indicates that ALEBUND is expected to be included in the Hong Kong Stock Connect on August 21st, which will expand the investor base and enhance the liquidity of H shares
According to Zhitong Finance APP, on August 5th, ALEBUND-B (09637) surged significantly, rising over 15% during the session. As of the time of publication, it was up 13.07%, trading at HKD 33.22, with a transaction volume of HKD 29.212 million.
In news, U.S. kidney disease company Travere Therapeutics released its Q2 2026 performance, rising about 14% in after-hours trading. Its core product FILSPARI reported U.S. net product sales of USD 141.1 million in Q2, a year-on-year increase of 96%; the initial performance of FSGS and the continued growth of the IgA nephropathy business brought in 2,012 new patient initiation forms. In April of this year, FILSPARI was approved by the FDA as the first treatment for FSGS, a long-standing drug shortage in this kidney disease indication is being revalued by the capital market.
The popularity of FSGS has also led the market to reassess ALEBUND's layout in the same indication. The company's independently developed AP303 is a dual PPAR agonist, positioned as a potentially disease-modifying therapy that may delay or prevent the progression of CKD. The company holds global rights, covering FSGS, DKD, and IgAN high-proteinuria patients (basket II phase) as well as ADPKD (which has received FDA orphan drug designation). AP303 has completed Phase I clinical trials and is expected to advance to Phase II in the second half of the year, currently standing at the starting point of clinical value realization.
It is worth mentioning that CICC recently released a research report stating that the Hang Seng Index Company will announce the review results on August 21st, coinciding with the semi-annual review of the Hang Seng Composite Index. The firm estimates that 49 stocks are likely to be included in the Hong Kong Stock Connect, including ALEBUND. It is reported that inclusion in the Hong Kong Stock Connect is beneficial for expanding the company's investor base and potentially increasing the liquidity of H-shares
