New stock news | Huahao Zhongtian submitted a secondary application to the Hong Kong Stock Exchange, committed to developing innovative cancer drugs.

According to the disclosure of the Hong Kong Stock Exchange on August 12, Beijing Huahao Zhongtian Biopharmaceutical Co., Ltd. (hereinafter referred to as: Huahao Zhongtian) submitted an application to the Hong Kong Stock Exchange main board, with China International Capital Corporation and China Securities Co., Ltd. International as its joint sponsors. It is reported that the company first submitted its prospectus to the Hong Kong Stock Exchange on January 29, 2024. According to the prospectus, Huahao Zhongtian is a global biopharmaceutical company driven by synthetic biology technology, dedicated to developing innovative anti-tumor drugs. Since its establishment in 2022, the company has successfully developed three core technology platforms focusing on the research and development of new drugs derived from microbial metabolites, including a commercially available product and a pipeline consisting of 19 projects. The company's core product, Ultidelon Injection, was approved by the National Medical Products Administration in 2021 for the treatment of recurrent or metastatic advanced breast cancer. The approval of Ultidelon Injection in 2021 marked the end of nearly two decades of China's lack of domestically developed innovative chemotherapy drugs. Ultidelon Injection is the only chemotherapy drug developed and approved for market through synthetic biology technology, and it is the only microtubule inhibitor type of anti-tumor drug with a new molecular structure approved globally since 2010. Based on pre-clinical and clinical studies, Ultidelon demonstrates several advantages such as stronger anti-tumor activity, good safety profile, sustained efficacy against multidrug-resistant tumors, low likelihood of developing resistance, and ability to penetrate the blood-brain barrier. As of May 31, 2024, the company's Ultidelon Injection is in phase III clinical trials for neoadjuvant therapy in breast cancer, phase III clinical trials in China for advanced NSCLC, and phase II to III MRCT trials for advanced NSCLC, all as superiority head-to-head comparative studies. In the future, the company may conduct head-to-head randomized controlled trials to confirm the effectiveness and safety of its candidate products compared to standard treatment regimens for various indications. Furthermore, Huahao Zhongtian is actively developing an oral form of Ultidelon, namely Ultidelon Capsule, which has shown significant efficacy, good safety profile, higher bioavailability, improved convenience, and compliance in existing pre-clinical and clinical studies. The company believes that Ultidelon Capsule represents a major advancement in cancer treatment and may significantly increase market share. Financially, the company's revenue for 2022, 2023, as well as January-May 2023 and January-May 2024, was RMB 32.82 million, RMB 66.635 million, RMB 27.047 million, and RMB 28.564 million respectively. During the same period, the company achieved gross profit of RMB 23.88 million, RMB 46.825 million, RMB 18.335 million, and RMB 24.295 million respectively.