Core Viewpoint - The company,药捷安康, is undergoing a listing process on the Hong Kong Stock Exchange, with a focus on developing innovative therapies for cancer and other diseases, while currently not generating any revenue from product sales [1][4][7]. Company Overview - 药捷安康 is a biopharmaceutical company focused on discovering and developing small molecule therapies for oncology, inflammation, and cardiovascular metabolic diseases [4]. - The company has developed a core product, Tinengotinib (TT00420), which is a multi-target kinase (MTK) inhibitor targeting key pathways including FGFR/VEGFR, JAK, and Aurora kinases [4]. Clinical Development - Tinengotinib is currently undergoing two pivotal/registration clinical trials for cholangiocarcinoma (CCA) in patients who have progressed after FGFR inhibitor treatment, with one trial in China and another involving the US [4]. - The company is also exploring Tinengotinib for other indications such as metastatic castration-resistant prostate cancer (mCRPC), breast cancer, and hepatocellular carcinoma (HCC) [5]. Market Potential - The global CCA drug market is projected to reach $2 billion by 2024, with a compound annual growth rate (CAGR) of 16.2% from 2019 to 2024, and further growth expected to $3.2 billion by 2027 [4]. Financial Performance - The company reported revenues of approximately 1.18 million RMB in 2023, with no revenue expected in 2024, and incurred significant operating losses of 343.39 million RMB and 274.61 million RMB for the respective years [7][9]. - The financial data indicates that the company has not yet achieved profitability and relies on milestone payments from partnerships for revenue [7].

2024 年 12 月 20 日，中国证监会国际合作司披露了《关于药捷安康（南京）科技股份有限公司境 外发行上市及境内未上市股份"全流通"备案通知书》。 药捷安康专注于发现及开发肿瘤、炎症及心脏代谢疾病小分子创新疗法。公司主要开发全球范围内同 类首创及同类最佳药物，目前管线有6款临床阶段候选产品及一种临床前阶段候选产品。其中，核心 产品Tinengotinib（TT-00420）处于注册临床阶段。 | 候团览物! | 肥盛/模制 | (新闻) | II =/ 刷合 | | | 用用和身 | | 颜期即將來區的雪配碑* | 商量化幅利* | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 图库的 | IND 7 /6 | III. 玩 | 圖就作用開/加點 | | | | | | 喷管编 FGF安排加新费用式 | M- | of a result of the property. | | | 國家德基督管 管理局= | 於2025年下半年完成試驗 | | | | | 都合(2)34.) | M- M- | FRANC ...