Core Viewpoint - The ophthalmic biotech company Bolekang Shiyun-B (HK02592) officially listed on the Hong Kong Stock Exchange, experiencing a significant drop in share price on its first trading day, closing down 38.61% from its IPO price of HKD 10.1 per share [2][3] Company Overview - Bolekang Shiyun is an innovative clinical-stage ophthalmic biotech company focused on the discovery, development, and commercialization of first-in-class and best-in-class ophthalmic therapies [2] - The company was co-founded in 2015 by its current CEO, Ni Jinsong, who has extensive experience from Pfizer and Allergan [3] Financial Performance - Bolekang Shiyun has not yet commercialized any drugs and has reported losses of USD 66.84 million, USD 129 million, and USD 99.1 million for the years 2022, 2023, and 2024, respectively, totaling nearly USD 300 million over three years [3] - Research and development expenses are projected to increase from USD 15 million in 2022 to USD 38 million in 2024, with significant portions allocated to clinical trials for core products CBT-001 and CBT-009 [4] Product Development - The core products CBT-001 and CBT-009 are in the final stages of clinical trials, targeting pterygium and myopia in adolescents, with trials initiated in June 2022 and September 2023, respectively [3] - Other candidate drugs are in earlier stages of development, including two clinical-stage candidates and four preclinical candidates [3] IPO Details - The IPO was oversubscribed by 78.78 times in the public offering phase, with 12.12 million shares allocated, representing about 20% of the total offering [2] - The net proceeds from the global offering are approximately HKD 522 million, with plans to allocate 62.4% for ongoing clinical development of CBT-001 and related regulatory activities [5]
眼科生物科技公司拨康视云上市首日跌超38% 创始人倪劲松：希望核心产品能尽快商业化