Movement Alert｜Micot Pharmaceutical-B Falls 7.89% in Regular Trading, Profit-Taking Continues on Fourth Trading Day After IPO

Market Focus06-29

On June 29, Micot Pharmaceutical-B declined 7.89% in regular trading, trading at HK$38.52 per share, with turnover of approximately HK$1.97 million.

The stock listed on the Hong Kong Stock Exchange on June 24 at an offer price of HK$18.20, surging 102.75% on its debut and subsequently reaching the HK$40 level — more than doubling its IPO price. The Hong Kong public offering was oversubscribed by 1,181.46 times. As a pre-revenue biotech company listed under Chapter 18A rules, its core product MT1013 remains in Phase III clinical trials with commercialization not expected until early 2028. The rapid post-IPO rally accumulated substantial unrealized gains, and profit-taking pressure has persisted, with a similar correction already occurring on June 26 when the stock fell 6.28%.

Micot Pharmaceutical is a platform biotech company specializing in dual/multi-specific peptide drug innovation, focusing on metabolic diseases, particularly kidney-related conditions, and cardiovascular diseases. The company raised net proceeds of approximately HK$989 million from its IPO.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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