TENNOR THERAPEUTICS-B (06872), known as the "H. pylori nemesis," is conducting its initial public offering from May 14 to May 19, 2026. According to the prospectus, the company is a biotechnology firm nearing the commercialization stage, focused on discovering, developing, and commercializing differentiated innovative drug products to address unmet clinical needs in bacterial infections and diseases related to bacterial metabolism. As of May 4, 2026, the company has established a pipeline of seven innovative projects, including two core products: Liftonizole (TNP-2198), a new molecular entity candidate drug used as part of a triple therapy in combination with amoxicillin and a proton pump inhibitor to treat Helicobacter pylori infection, and also as a monotherapy for bacterial vaginosis and Clostridioides difficile infection; and Rifoquinone (TNP-2092 injection), a candidate drug targeting three sites for the treatment of implant-related bacterial infections such as prosthetic joint infections, left ventricular assist device infections, and central venous catheter-related bloodstream infections. The company continues to invest resources in research and development to lay the foundation for long-term growth. In 2023, 2024, and 2025, research and development expenses attributable to its core products amounted to RMB 99.7 million, RMB 64.2 million, and RMB 60.5 million, respectively, accounting for 91.9%, 91.9%, and 84.1% of the company's total R&D expenses, and representing 78.0%, 77.4%, and 50.1% of the company's total operating expenses during the respective periods.
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