BioNTech SE(US:BNTX) 智通财经网·2025-04-06 22:47Core Viewpoint - The company, Yingensheng Bio-B (09606), is set to launch an initial public offering (IPO) from April 7 to April 10, 2025, aiming to globally offer 15.0716 million shares, with a price range of HKD 94.6 to HKD 103.2 per share, and expects trading to commence on April 15, 2025 [1][2]. Company Overview - Established in 2019, the company is a key leader in the field of antibody-drug conjugates (ADC), focusing on developing innovative ADC drugs for cancer and autoimmune diseases [1]. - The company has two core products: DB-1303/BNT323, targeting cancers such as endometrial cancer and breast cancer, and DB-1311/BNT324, targeting small cell lung cancer and other cancers [1][2]. Product Pipeline - In addition to core products, the company has developed five other clinical-stage ADCs and two bispecific ADCs expected to enter clinical stages between 2025 and 2026 [2]. - The company currently has no commercially approved products and has recorded losses of RMB 357.5 million and RMB 1.0504 billion for the years ending December 31, 2023, and 2024, respectively, primarily due to R&D expenses [2]. Financial Performance - The company reported revenues of RMB 1.787 billion and RMB 1.941 billion for the years ending December 31, 2023, and 2024, respectively, mainly from licensing and collaboration agreements [2]. - The company anticipates significant expenditures in the coming years as it continues clinical research and prepares for the commercialization of its candidate drugs [3]. Investment and Funding - The company has entered cornerstone investment agreements with several investors, including BioNTech SE and various funds, agreeing to subscribe for shares totaling approximately USD 65 million (about HKD 505 million) [3]. - The cornerstone placement is expected to provide reliable commitments and enhance market confidence in the company’s prospects [3]. Use of Proceeds - Assuming a share price of HKD 98.90, the estimated net proceeds from the global offering would be approximately HKD 1.37 billion, with allocations planned for R&D, commercialization of core products, and operational funding [4].