Core Viewpoint - The biotechnology sector in the Hong Kong stock market has seen a surge in new listings, with several companies experiencing significant first-day gains, indicating a favorable environment for IPOs in this industry [2][12] Company Overview - Aikobio, established in 2013, focuses on discovering and developing therapies for respiratory and pediatric diseases, with six candidate drugs targeting various stages of these conditions [2][10] - The company has made multiple attempts to go public, with its latest effort being the third attempt to list on the Hong Kong Stock Exchange [2][6] Product Pipeline - Aikobio has developed six candidate drugs, including: - Qiruisuo (AK0529), a novel RSV treatment that has shown positive results in pivotal Phase III trials [7][8] - AK0610, a monoclonal antibody for RSV prevention currently in Phase II [3] - AK3280, targeting idiopathic pulmonary fibrosis, in the post-proof of concept clinical stage [3][9] - AK0901, an ADHD treatment in the NDA stage [3] - Additional candidates include AK0705 for COPD and AK0406 for influenza [4] Financial Backing - Aikobio has secured multiple rounds of financing from notable investors, achieving a post-money valuation of 4.69 billion yuan after its D round in June 2022 [6] Financial Performance - In 2023, Aikobio reported revenue of 6.701 million yuan, but projected zero revenue for 2024 and the first half of 2025 due to a paused collaboration on an HBV candidate drug [10][11] - The company has incurred losses of 270 million yuan in 2023, 197 million yuan in 2024, and 104 million yuan in the first half of 2025, highlighting its reliance on external financing [11] IPO Plans and Fund Utilization - If successful in its IPO, Aikobio plans to allocate funds towards: - R&D for core products Qiruisuo and AK3280 - Clinical research for other candidates including AK0610, AK0901, AK0705, and AK0406 - Milestone payments and potential licensing opportunities - Commercialization efforts in the Chinese market - General operational expenses [11]
【IPO前哨】生物科技涌向港股！亏损的爱科百发能否获得青睐？
Sou Hu Cai Jing·2025-09-19 09:50