The China market for early-screening cancer products has grown rapidly in recent years, fueled by the country’s huge cancer caseload and a growing middle class that can afford such services. One major beneficiary of that boom is New Horizon Health Ltd. (6606.HK), whose latest results released last week show its revenue more than tripled to 765 million yuan ($110.8 million) last year.

Equally significant, the report also showed the company’s adjusted loss last year narrowed by 59.6% to 100 million yuan. Its improving financial health didn’t end there. The company also said its application to remove the “B” marker from its ticker, which designates high risk stocks, was approved and took effect on March 20. That successful step makes New Horizon the seventh biotech company to shed the marker, joining the likes of BeiGene (BGNE.US; 6160.HK; 688235.SH), Shanghai Junshi Biosciences (1877.HK; 688180.SH) and Zai Lab (ZLAB.US; 9688.HK).

Hong Kong first began allowing biotech companies with no revenue or profits to list in 2018, but required them to carry the “B” marker to alert investors to their higher risks. As of 2022, 56 companies had listed in Hong Kong under that rule change. A more recent addition says companies with annual revenue greater than HK$500 million ($64 million) and market capitalization above HK$4 billion can apply to have the “B” mark removed, giving them the equivalent of a regular listing on Hong Kong’s main board.