先为达生物递表港交所 深耕体重管理领域

Core Viewpoint - Xianweida Biotech Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Morgan Stanley, CITIC Securities, and CICC acting as joint sponsors [1] Company Overview - Xianweida Biotech is a near-commercial stage biopharmaceutical company focused on addressing urgent medical needs in weight management [2] - The company plans to launch its core product, XW003 (Enoglutide injection), in China, which is expected to be the world's first cAMP biased GLP-1 receptor agonist for treating overweight/obesity and type 2 diabetes [2] Product Details - XW003 has demonstrated a 15.1% placebo-adjusted weight loss effect in overweight/obese patients in China, with female patients averaging a 17.6% weight loss, outperforming Semaglutide (8.5%) while using a lower dose (2.4mg vs. 15mg) to achieve similar efficacy to Tirzepatide [2] Market Potential - The global weight management drug market is projected to grow from $112.8 billion in 2024 to $165.9 billion by 2029, with a compound annual growth rate (CAGR) of 19.8% starting in 2024 [3] - The overweight/obesity drug market is expected to reach $41.7 billion by 2029, indicating strong growth potential [3] Financial Performance - For the six months ending June 30, 2025, the company reported revenue of 91.067 million RMB [4] - Research and development expenses for 2023, 2024, and the first half of 2025 were 456 million RMB, 284 million RMB, and 65.027 million RMB, respectively, indicating significant investment in R&D [4] - The company recorded net losses during the reporting periods, with a pre-tax loss of 620.392 million RMB for 2023 [5]