Hesai Group shares rise 3.30% intraday after Ascletis Pharma Inc. announced positive Phase III study results for denifanstat (ASC40).

Hesai Group rose 3.30% intraday, with Ascletis Pharma Inc. presenting positive Phase III study results of denifanstat (ASC40) for the treatment of moderate to severe acne vulgaris. The study met all primary, key secondary, and secondary efficacy endpoints, demonstrating a favorable safety and tolerability profile. The company is planning to submit an NDA for denifanstat (ASC40) for the treatment of moderate to severe acne, with encouraging feedback from the China National Medical Products Administration (NMPA).