君赛生物拟赴港上市

Core Viewpoint - Junshi Biosciences has submitted its listing application to the Hong Kong Stock Exchange, focusing on innovative cell therapies and drug development for solid tumors, with its core product GC101 expected to be the first approved tumor-infiltrating lymphocyte (TIL) therapy [1][2]. Group 1: Company Overview - Junshi Biosciences is dedicated to addressing the significant unmet clinical needs in solid tumor treatment by developing next-generation pan-solid tumor immunotherapies [2]. - The company has established a comprehensive TIL industrialization production base in China, utilizing high-standard production equipment and a smart, digital management platform to ensure scalable preparation and reliable delivery of TIL cell products [2]. Group 2: Product Development - The core product GC101 is currently undergoing a critical Phase II clinical trial for melanoma, with plans to submit a Biologics License Application (BLA) by 2026 [2]. - GC101 is also in the Phase Ib clinical stage for treating non-small cell lung cancer, with additional early-line combination therapies and postoperative adjuvant treatments in development [2]. Group 3: Financial Performance - The company is projected to incur net losses of approximately RMB 94 million, RMB 164 million, and RMB 98 million for the years 2023, 2024, and the first half of 2025, respectively [3][4]. - Research and development costs are expected to be RMB 57.62 million, RMB 90.99 million, and RMB 52.80 million for the same periods, reflecting significant investment in expanding the core product's indications and advancing clinical development [5].