On May 22, Danno Pharma-B surged 95.24% in regular trading on its listing debut, trading at HKD 176.0/share, with trading volume of HKD 212 million. The stock was priced at HKD 75.7 per share in its IPO.
The explosive debut was driven by extraordinary subscription demand, with the Hong Kong public offering receiving 9,015.11 times oversubscription and the international offering 9.24 times oversubscribed. The company raised approximately HKD 5.98 billion in net proceeds from the global offering of 8.856 million shares.
Market enthusiasm centers on the company's lead candidate Riftenizol (TNP-2198), the world's first new molecular entity drug targeting Helicobacter pylori infection since the bacterium's discovery in 1982. The global H. pylori treatment market is projected to reach USD 16.1 billion by 2035, with China's infection rate at 44% affecting over 600 million patients. The company has submitted a New Drug Application to China's NMPA, with potential approval expected by year-end.
Danno Pharma, founded in 2013, is a near-commercialization biotech company focused on innovative drug development for bacterial infections and bacterial metabolism-related diseases, with a pipeline of seven innovative programs.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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