China's Hengrui Medicine announced that Rivoceranib (Apatinib, brand name Aitan®) has marketed to the National Medical Products Administration (NMPA) as a second-line liver cancer treatment. In addition, the Chinese company announced, "Rivoceranib-based breast cancer, non-small cell lung cancer, ovarian cancer, and many phase 3 clinical trials have been approved and will proceed."

Apart from the increased value of Rivoceranib, as Rivoceranib is being marketed in China for gastric cancer and liver cancer treatment, it is expected to significantly affect HLB's royalty revenue. In addition, since Hengrui Medicine is establishing a strategy to conduct global clinical trials based on the indications that Rivoceranib has had a good effect among various clinical trials conducted in China, entering Phase 3 clinical trials for various indications in China, which will also help HLB's future global strategy.

In response, director Matthew Jang said, “If Rivoceranib is approved as a secondary treatment for liver cancer in China, it is expected that green light will be turned on in the global phase 3 clinical trial of liver cancer in progress by Elevar.” and added, "We have been conducting numerous clinical trials for Rivoceranib for 15 years, and in particular, we have been trying various combination clinical trials in recent years. It is a time when additional achievements are expected because it seems to have reached the tipping point of pouring out after a long time."