New Stock News | Huahao Zhongtian Hong Kong Stock IPO prospectus invalid: core product is Youtide Delong injection

According to the Finance APP, the Hong Kong stock prospectus submitted by Beijing Huahao Zhongtian Biopharmaceutical Co., Ltd. (hereinafter referred to as Huahao Zhongtian) on January 29, 2024 became invalid after 6 months on July 29, with Jianyin International and China Securities Co., Ltd. International as its joint sponsors when the prospectus was submitted. According to the prospectus, Huahao Zhongtian is a biopharmaceutical company driven by synthetic biology technology with a global focus on developing innovative cancer drugs. Under the leadership of co-founders Dr. Tang Li and Dr. Qiu Rongguo, the company has successfully developed three core technology platforms focusing on the research and development of microbial metabolites and built a diverse product portfolio, including one commercialized product and a pipeline of 19 projects. The company's core product, Utidelon Injection, obtained approval from the National Medical Products Administration in 2021 for the treatment of recurrent or metastatic late-stage breast cancer. As of January 26, Utidelon Injection is the only chemotherapeutic innovative drug developed through synthetic biology technology to be approved for market, and it is also the only tubulin inhibitor with a novel molecular structure approved globally in the past decade. As of the fiscal year ending December 31, 2022, sales of Huahao Zhongtian's core product reached 18,483 bottles, and as of the nine months ending September 30, 2023, it reached 76,756 bottles. In terms of finances, for the fiscal year ending December 31, 2022, and the nine months ending September 30, 2022 and 2023, Huahao Zhongtian's revenues were 32.82 million, 32.588 million, and 56.61 million RMB respectively. During the same period, the company achieved gross profits of 23.88 million, 26.694 million, and 38.583 million RMB respectively. On July 2, Huahao Zhongtian announced that its Utidelon Injection had received FDA approval for a Phase 2 clinical trial (BG01-2402) in the United States for the treatment of HER2-negative breast cancer brain metastasis (BCBM). The study aims to evaluate the efficacy and safety of Utidelon Injection in combination with capecitabine for the treatment of HER2-negative BCBM patients both intracranially and systemically.