Core Viewpoint - Hua Yan Biopharma-B (02396) experienced a significant decline in stock price, dropping nearly 30% on its first trading day and over 18% the following morning, with a low of 21.82 HKD, representing a decline of more than 40% from its IPO price of 38.2 HKD [1] Company Overview - Hua Yan Biopharma, established in 2012, is a biopharmaceutical company focused on the discovery, development, and commercialization of wound healing therapies [1] - As of December 5, 2025, the company has a pipeline of ten candidate products, with seven being PDGF candidate drugs, including two core products, Pro-101-1 and Pro-101-2 [1] Financial Performance - The company has not generated any revenue from product sales to date [1] - Projected net losses for the years 2023, 2024, and up to September 30, 2025, are 110 million HKD, 210 million HKD, and 130 million HKD, respectively [1] - The majority of the net losses are attributed to research and development expenses as well as administrative costs [1]
港股异动 | 华芢生物-B(02396)上市次日再挫逾18% 较招股价已跌逾四成