Core Viewpoint - Shanghai Baoji Pharmaceutical Co., Ltd. has passed the listing hearing on the Hong Kong Stock Exchange, with its core product SJ02 receiving NDA approval from the National Medical Products Administration in August 2025, and two candidate drugs KJ103 and KJ017 entering late-stage trials or NDA registration in China [1][4]. Company Overview - Baoji Pharmaceutical, established in 2019, focuses on four strategic therapeutic areas: (i) large-volume subcutaneous administration, (ii) antibody-mediated autoimmune diseases, (iii) assisted reproduction, and (iv) recombinant biopharmaceuticals. The company has a pipeline of 12 self-developed products, including three core products (KJ017, KJ103, and SJ02), four other clinical-stage candidates, and five preclinical assets [4][5]. Product Pipeline - The core products include: - SJ02 (Shengnuowa®), a long-acting recombinant human follicle-stimulating hormone CTP fusion protein, approved for controlled ovarian stimulation [4][6]. - KJ017, a recombinant hyaluronidase in NDA stage for large-volume subcutaneous administration and fluid loss treatment [4][6]. - KJ103, an innovative recombinant immunoglobulin G (IgG) degrading enzyme in Phase III development for treating desensitization prior to kidney transplantation and various autoimmune diseases [4][6]. Market Potential - According to Frost & Sullivan, the clinical addressable market for the company's four strategic therapeutic areas in China is projected to reach approximately RMB 50 billion by 2033, driven by segments such as large-volume subcutaneous administration and autoimmune diseases [5]. Financial Performance - The company's revenue for the six months ending June 30 for 2023, 2024, and 2025 was RMB 6.93 million, RMB 6.16 million, and RMB 41.99 million, respectively. R&D expenses for the same periods were approximately RMB 133 million, RMB 251 million, and RMB 111 million [7][8].
新股消息 | 宝济药业通过港交所聆讯 核心产品SJ02已获得国家药监局的NDA批准
智通财经网·2025-11-26 15:56