创新药企维立志博-B暗盘收涨99.29% 智通财经7月24日电，利弗莫尔证券显示， 维立志博-B今日暗盘高开，一度升逾134%，最高报82港 元。每手100股，不计手续费，一手最高赚4700港元。最终收涨99.29%，报69.75港元。 ...

智通财经7月24日电，利弗莫尔证券显示，维立志博-B港股暗盘涨超90%，报66.65港元。 ...

Group 1 - The stock of the innovative drug company Valiant Biopharma-B (09887.HK) surged over 80% in the dark market, currently trading at 65.2 HKD [1]

港股新股维立志博-B暗盘涨超90%，报66.65港元。维立志博于2012年成立，是一家临床阶段生物科技 公司，专注于肿瘤、自身免疫性疾病及其他重大疾病新疗法的发现、开发及商业化。 ...

每经记者｜黄婉银 每经编辑｜魏官红 在香港交易所创纪录地于同日（7月9日）敲响6面铜锣后，港股IPO（首次公开发行）进入短暂的空闲 期，但这并未浇灭投资者的热情。 近期，维立志博-B（HK09887）开启招股，这是一家尚未盈利的生物科技公司。其拟全球发售3205.44 万股（假设未行使调整权及超配权），招股价区间为31.60港元至35.00港元，以每手100股粗略估算，一 手入场费约3535.3港元。 在上述14款候选药物中，6款已成功进入临床阶段，有2款候选药物于3种适应症的Ⅱ期临床试验中获得 概念证明，且其中有1款进展至注册临床试验阶段。 2023年、2024年及2025年前三个月，维立志博亏损额分别为3.62亿元、3.01亿元、7515万元。期间，维 立志博仅在2023年有约887万元的收入，主要是根据百济神州协议，就维立志博所提供的桥接研究服务 而自百济神州收取的款项。 "我们现时并无产品获准进行商业销售，亦未自产品销售产生任何收入。"维立志博公告称。 封面图片来源：每日经济新闻 刘国梅 摄 和IFBH一样，维立志博的基石投资者阵容也较为豪华，包括腾讯、易方达、正心谷资本、上海高毅 等。 《每日经济新 ...

Group 1: IPO Information - The company, Vailizhibo-B (09887.HK), is in the biopharmaceutical industry and is conducting an IPO from July 17 to July 22, with a total of 32.0544 million shares being offered, 10% for public sale and 90% for international placement [1] - The offering price is set between 31.6 to 35 HKD, with a market capitalization estimated between 59.58 billion to 65.99 billion HKD [1][12] - The company has a loss-making P/E ratio and the minimum subscription amount is 3536 HKD, with the listing date scheduled for July 25 [1] Group 2: Company Overview - Founded in 2012, Vailizhibo focuses on innovative antibody drug development for oncology and autoimmune diseases, led by founder Kang Xiaoqiang, a former chief scientist at Eli Lilly [2] - The company has a strong pipeline with 14 drugs in development, 6 of which are in clinical stages, utilizing advanced technologies such as bispecific antibodies and T-cell engagers [3] Group 3: Financial Performance - For the year ending December 31, 2023, the company reported revenue of 8.865 million RMB, with a net loss of 362.249 million RMB [5] - The R&D expenses for the same period were 230.858 million RMB, indicating a significant investment in drug development [5] - As of March 31, 2025, the company had cash reserves of 431 million RMB but faced liquidity issues with current liabilities of 462 million RMB [7] Group 4: Product Pipeline and Market Potential - The core product, LBL-024, is the first PD-L1/4-1BB bispecific antibody entering critical clinical trials, targeting a rare cancer with no approved treatments, showing an objective response rate of 36.7% and a median survival of over 18 months [3][10] - The global market for 4-1BB antibody drugs is projected to reach 2.9 billion USD by 2030, with China expected to grow over 120% [10] Group 5: Investment and Market Sentiment - The IPO is expected to raise approximately 1.122 billion HKD, with cornerstone investors committing 542 million HKD, indicating strong market interest [12][11] - The stock has seen significant interest, with a subscription rate of 295 times on the first day, and expectations of oversubscription reaching 2000 times [13]

Group 1 - The biotechnology company Valiant Biotech (09887.HK) has launched an IPO, planning to globally offer 32.0544 million shares, with 28.8489 million shares for international offering and 3.2055 million shares for public offering in Hong Kong [3] - The price range for the shares is set between HKD 31.6 and HKD 35, with an estimated net proceeds of approximately HKD 967.7 million from the global offering, assuming no exercise of the over-allotment option [3] - The public offering in Hong Kong started on July 17 and will end on July 22, with the final offer price and allocation results to be announced on July 24 [3] Group 2 - Valiant Biotech has secured nine cornerstone investors, including Tencent (00700.HK) and OrbiMed, with a total subscription amount of USD 69 million (approximately HKD 541.6 million) for the offered shares [4] - The company focuses on discovering, developing, and commercializing new therapies for cancer, autoimmune diseases, and other major diseases, with a diverse product portfolio including four core products [4] - The core product LBL-024 has entered a single-arm registration clinical trial for advanced pulmonary neuroendocrine carcinoma, expected to submit the first biological product license application to NMPA by Q3 2026 [4] Group 3 - Another major product, LBL-034, targets both GPRC5D and CD3 and received orphan drug designation from the FDA for the treatment of multiple myeloma [5] - Valiant Biotech has not yet commercialized any products and has recorded operating losses, with losses of RMB 362 million, RMB 301 million, and RMB 75.367 million for the first quarters of 2023, 2024, and 2025 respectively [5]

Group 1 - The company,维立志博-B, plans to globally offer 32.0544 million shares, with 3.2055 million shares available in Hong Kong and 28.8489 million shares for international offering, along with an over-allotment option of 4.8081 million shares [1] - The subscription period is set from July 17 to July 22, with a maximum offer price of HKD 35.00 per share, and an entry fee of approximately HKD 3,535.30 for 100 shares [1] - The total expected fundraising amount is HKD 1.067 billion, with a net amount of HKD 968 million, which will be used for clinical development, enhancing preclinical assets, expanding existing pipelines, optimizing technology platforms, increasing production capacity, commercialization post-approval, and general corporate purposes [1] Group 2 - The company is a clinical-stage biotechnology firm focused on discovering, developing, and commercializing innovative therapies to address unmet medical needs in oncology, autoimmune diseases, and other significant conditions [1] - Specifically, the company is a leader in next-generation tumor immunotherapy, aiming to advance breakthrough cancer therapies to improve patient outcomes [1] Group 3 - For the fiscal years 2023, 2024, and the first quarter of 2025 ending March 31, the company's net profits were -362 million, -301 million, and -75.367 million respectively, with year-on-year changes of -29.01%, 16.85%, and 12.94% [2]

Group 1 - The company, Valiant Bio-B (09887.HK), plans to globally offer 32.0544 million H-shares, with 3.2055 million shares available in Hong Kong and 28.8489 million shares for international offering, with the offering period from July 17 to July 22, 2025, and expected pricing on July 23, 2025 [1] - The expected price range for the shares is HKD 31.60 to HKD 35.00 per share, with a trading unit of 100 shares, and Morgan Stanley and CITIC Securities are the joint sponsors [1] - The company was established in 2012 and focuses on discovering, developing, and commercializing new therapies for cancer, autoimmune diseases, and other major diseases, with one core product LBL-024 currently in the registration clinical stage [1] Group 2 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling USD 69 million (approximately HKD 541.6 million) under certain conditions [2] - Assuming a mid-range offering price of HKD 33.30 per share, cornerstone investors are expected to subscribe for approximately 16.2645 million shares [2] - Key cornerstone investors include Tencent Holdings (00700.HK), Highfields Capital, and others [2] Group 3 - If the offering adjustment rights and over-allotment options are not exercised, and assuming a share price of HKD 33.30, the company estimates net proceeds from the global offering to be approximately HKD 967.7 million [3] - The estimated proceeds will be allocated as follows: approximately 65% for clinical development and regulatory affairs of clinical-stage candidates, 15% for enhancing preclinical assets and expanding the pipeline, 10% for increasing production capacity, and 10% for working capital and general corporate purposes [3] Group 4 - Valiant Bio-B is expected to be listed on July 25, 2025, with cornerstone investors such as Tencent and Highfields supporting the offering [4]