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泰诺麦博三年多亏损超15亿负债率高企,创新药企乘东风还是成冬风?
Sou Hu Cai Jing· 2025-08-13 04:42
Core Viewpoint - Zhuhai Tainuo Maibo Pharmaceutical Co., Ltd. (Tainuo Maibo) has submitted its application for listing on the Sci-Tech Innovation Board, marking it as the first company accepted under the newly restarted fifth set of listing standards, attracting significant market attention [1] Company Overview - Tainuo Maibo was established in 2015 and focuses on the research, production, and sales of fully human monoclonal antibody new drugs, utilizing its proprietary HitmAb® technology platform [2][3] - The company aims to develop innovative drugs with independent intellectual property rights to address infectious diseases, autoimmune diseases, malignant tumors, and other medical needs [2] Financial Performance - The company has reported continuous losses, with total losses amounting to 1.567 billion yuan over the reporting periods from 2022 to Q1 2025 [3] - Revenue figures show 4.3398 million yuan in 2022, 15.0559 million yuan in 2024, and 169,300 yuan in Q1 2025, indicating a low sales volume and a production-sales rate of only 0.32% in Q1 2025 [2][3] R&D and Innovation - Tainuo Maibo has invested nearly 1.3 billion yuan in R&D, with a compound annual growth rate of 14.8% from 2022 to 2024 [11] - The company holds 37 domestic and 6 international authorized invention patents, with over 50 additional patents pending [11] Product Pipeline - The main product, Staitouta Monoclonal Antibody Injection, has been approved for sale in China as of February 2025, targeting emergency prevention of tetanus [5][6] - Another key product, TNM001, is in Phase III clinical trials for targeted tumor treatment [5] Market Challenges - The company faces significant competition from established products in the market, with its main competitor's pricing being significantly lower, which may limit market expansion [7][12] - The product has not yet entered the medical insurance system, which poses a challenge for market penetration [7] Financial Health - The company's liabilities have been increasing, with current liabilities reaching 254 million yuan in Q1 2025, representing a significant portion of total liabilities [9] - The asset-liability ratio has been rising, indicating potential pressure on the company's financial flexibility and long-term development [10] Future Prospects - Tainuo Maibo plans to raise 1.5 billion yuan through its IPO, with funds allocated for new drug R&D, expansion of antibody production facilities, and operational capital [13] - The company must navigate short-term cost pressures and long-term policy uncertainties while maintaining its innovation advantage to establish a sustainable commercialization model [13]
科创板第五套标准重启首单!泰诺麦博IPO闯关:三年半累亏近16亿,单一核心产品刚上市销售
Sou Hu Cai Jing· 2025-08-01 04:51
深圳商报·读创客户端记者 李耿光 7月31日,上交所受理了珠海泰诺麦博制药股份有限公司(简称"泰诺麦博")的科创板IPO申请,成为重启科创板第五套上市标准后首家成功受理的企业。 | | | 2022年及2024年,公司主营业务产品暂未上市销售,公司的主营业务收入均为向百克生物的专利技术转让收入。2025年1-3月,随着公司核心产品斯泰度塔 单抗注射液在2025年2月成功获批上市, 公司于2025年3月开始销售斯泰度塔单抗注射液,并实现药品销售收入16.93万元。 截至招股书签署日,泰诺麦博无控股股东,共同实际控制人为HUAXIN LIAO 和郑伟宏,合计控制泰诺麦博33.10%的股权。 从业绩上来看,泰诺麦博只有零星源自技术转让等其他业务的收入。2022年至2025年前三个月(下称报告期),泰诺麦博的收入分别为433.98万元、0、 1505.59万元、16.93万元, 同期净亏损分别为4.29亿元、4.46亿元、5.15亿元、1.77亿元,三年半累计亏15.67亿元。截至报告期期末,公司累计未弥补亏损为 10.24亿元。 | 公司全称 | 珠海泰诺麦博制药股份有限公司 | 受理日期 | 2025-07-31 ...
科创板第五套上市标准重启后首家!上交所受理泰诺麦博IPO申请
Zhong Guo Jing Ying Bao· 2025-08-01 03:18
最近三年,公司研发投入超过11亿元。公司搭建了"高通量全人源单克隆抗体研发综合技术平台 HitmAb®""高效抗体表达CHO-GS细胞平台"等多项核心技术平台,不断培养健全涵盖药物发现、工程 细胞株构建、工艺及质量开发、药理研究、毒理研究、药代研究、临床开发以及符合国际GMP规范的 规模化生产等关键药物研发与产业化环节的创新药核心技术能力。 公司核心在研产品TNM001,是潜在的全球第三、我国首款适用于健康及高危婴幼儿的预防用长效抗 RSV单抗药物,目前已进入III期临床试验阶段。此外,公司在镇痛(TNM009)、预防水痘-带状疱疹 (TNM005)、预防人巨细胞病毒(TNM006)等领域均有布局。 (编辑:夏欣 审核:何莎莎 校对:颜京宁) 分析人士认为,泰诺麦博以第五套标准申报科创板获受理,系证监会"1+6"新政公布后"科创-资本"双循 环的崭新落地实践,亦标志着上交所科创板进一步充分发挥服务未盈利科创企业的积极作用,科创板正 从改革"试验田"迈向科创"新高地"。 根据《上海证券交易所发行上市审核规则适用指引第8号——资深专业机构投资者》的相关规定,泰诺 麦博认定珠海高瓴私募基金管理有限公司(以下简称"珠 ...