Core Viewpoint - Guangzhou Bibet Pharmaceutical Co., Ltd. has received approval from the CSRC for its IPO on the Sci-Tech Innovation Board after a lengthy wait of over two years, marking the beginning of its journey in the capital market [1] Company Overview - Bibet is a biopharmaceutical company focused on innovative drug development, particularly in the fields of oncology, autoimmune diseases, and metabolic diseases, relying on its self-developed core technology platform [1] - The company has not yet achieved profitability, with its core product BEBT-908 approved for market launch, and is actively working on commercialization efforts [1] Financial Performance - The company has reported continuous losses, with a projected loss of 56 million yuan in 2024, 173 million yuan in 2023, and 188 million yuan in 2022 [2] - In the first half of 2025, the loss reached 73.89 million yuan, and it is expected that there will be no sales revenue from January to September 2025, with a net profit attributable to shareholders projected to be between -114.9 million yuan and -107.2 million yuan, reflecting a slight decrease in losses compared to the previous year [2] Market Competition - BEBT-908 faces significant competition, with six competing products already available for the treatment of r/r DLBCL in the domestic market, necessitating substantial investment in market access, promotion, and sales network development [2] - The product's conditional approval was based on single-arm trial results, requiring the completion of critical registration studies within a specified timeframe to avoid potential issues with full approval [2] Intellectual Property Risks - Some of Bibet's projects rely on patented technologies licensed from partners, and any issues with agreements or unforeseen circumstances could jeopardize the company's ability to use these technologies, impacting drug development and registration [3]
贝特IPO注册“难产”26个月后终获注册，公司仅有1款创新药产品获准上市
Sou Hu Cai Jing·2025-08-07 15:01