HANXBIO-B (03378) plunged more than 13%, hitting a fresh low of HK$15.05 intraday, which represents a decline of over 50% from its initial public offering price of HK$32. As of writing, the stock was down 13.4% to HK$15.06, with a turnover of HK$17.45 million, resulting in a total market capitalization of approximately HK$2.06 billion.
HANXBIO is a biotechnology company with proprietary core technologies and extensive experience in the fields of structural biology, translational medicine, and clinical development. Its current pipeline includes three clinical-stage candidate drugs and seven preclinical-stage investigational drugs focused on oncology.
The company's core product, HX009, is an independently developed anti-PD-1/SIRPα bifunctional antibody fusion protein. It is noteworthy that none of the assets in HANXBIO's pipeline have achieved commercialization.
Financially, HANXBIO reported net losses of RMB 85.16 million for 2023, RMB 117 million for 2024, and RMB 87.44 million for the first eight months of 2025. As of October 31, 2025, the company held cash and cash equivalents of RMB 133 million, against total current liabilities of RMB 220 million.
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