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listed Abbisko Medicine climbs after chairman boosts stake

By Reuters News

** Shares of Abbisko Medicine 2256.HK climb 4.4% to HK$6.945, their highest level since November 5 and on course for a third consecutive session of gains

** The oncology-focused innovative medicines developer says founder and Chairman Xu Yao-Chang purchased 145,000 shares, or 0.02% of the issue share capital, at an average price of HK$6.67 each in the open market on November 11, raising his stake to 11.26%

** Company says Xu is confident about the business prospect and growth of the group and he may further increase his shareholding in the company when appropriate

** YTD, stock down 46.9%, Hang Seng Biotech Index .HSBIO up 7.3%

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