Core Viewpoint - 华芢生物-B (02396) experienced a significant decline in its stock price, dropping nearly 30% on its debut and over 18% the following day, indicating market concerns regarding its financial performance and product pipeline [1] Company Overview - 华芢生物 is a biopharmaceutical company established in 2012, focusing on the discovery, development, and commercialization of wound healing therapies [1] - The company has a pipeline of ten candidate products as of December 5, 2025, 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 estimated at 110 million, 210 million, and 130 million respectively, with the majority of losses attributed to research and development expenses and administrative costs [1]
华芢\生物-B上市次日再挫逾18% 较招股价已跌逾四成