Tuesday, 28 January 2020

CStone Pharma announces its listing on Hong Kong Stock Exchange

27 February 2019 | News

Based on the offer price of HK$12.00 per share, the net proceeds to be received by the Company are about HK$2,085.07 million

Image Credit: cwf.org

Image Credit: cwf.org

CStone Pharmaceuticals announced the listing of 186,396,000 shares on the Main Board of the Hong Kong Stock Exchange. Based on the offer price of HK$12.00 per share, the net proceeds to be received by the Company are about HK$2,085.07 million (assuming the Over-allotment Option is not exercised). The net proceeds the Company receives from this offering will mainly be allocated to fund the Company's Core Product Candidate, clinical development of other pipeline products, in-licensing of new drug candidates, and to support the launch and commercialization process.

Established only three years ago, with a robust clinical development program, a rich oncology pipeline and an experienced team, CStone Pharmaceuticals has been recognized by well-known investors in two financing rounds with record-breaking amounts of financing in the biopharmaceutical sector in China at the time. Four quality cornerstone investors have been introduced in the Global Offering, which suggests the Company's business prospects are highly recognized.

Currently, CStone Pharmaceuticals has built an oncology-focused pipeline that consists of 14 assets, including three IO backbone drug candidates at clinical stage. The scale and mix of the Company's pipeline ensures that the Company can continue to focus on its combination therapy strategy. Among the four drug candidates that the Company holds development and commercial rights for Greater China, two of the drug candidates are the first drug candidate in its class globally, and the other two have potential to be first-in-class globally, which may address significant unmet medical needs in cancer treatment and bring novel benefits to patients worldwide.

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