HANXBIO-B (03378) Debuts with 9.69% Drop in Early Trading; Core Product HX009 Undergoes Three Clinical Trials in China

Stock News12-23 09:40

HANXBIO-B (03378) made its market debut today, with shares priced at HKD 32 each. The company issued 18.321 million shares, with each lot consisting of 100 shares, raising a net proceeds of approximately HKD 531 million. As of the latest update, the stock fell 9.69% to HKD 28.9, with a trading volume of HKD 75.6697 million.

According to its prospectus, HANXBIO-B is a biotechnology company with proprietary expertise in structural biology, translational medicine, and clinical development. Since 2016, the company has developed a product pipeline, including one core product and nine other candidate products. Among them are three oncology-focused clinical-stage candidates: the core product HX009, along with key products HX301 and HX044. Additionally, there are seven preclinical-stage candidates, including antibody-drug conjugates, bispecific antibodies, and monoclonal antibodies targeting autoimmune and oncology markets.

Public data indicates that HANXBIO-B's core product, HX009, is a bispecific antibody fusion protein targeting both CD47 and PD-1. According to a Frost & Sullivan report, as of the latest practicable date, HX009's clinical trial progress is globally leading among similar CD47-targeting bispecific antibody/bifunctional fusion protein products.

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