New Stock News | Pharmaron Health once again submits documents to the Hong Kong Stock Exchange, with no commercial products and consecutive losses.

According to the disclosure of the Hong Kong Stock Exchange on December 30th, Pharmaron Nanjing Co., Ltd. (Pharmaron Nanjing) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and Huatai International as its joint sponsors. The company has previously submitted applications to the Hong Kong Stock Exchange four times. According to the prospectus, Pharmaron Nanjing is a clinical-stage biopharmaceutical company focused on oncology, inflammation, and cardiovascular metabolic diseases. With an integrated internal research and development system, the company has developed six clinical stage candidate products and one preclinical stage candidate product pipeline. The company currently has six clinical-stage candidate products and one preclinical candidate product pipeline. Its core product, Tinengotinib (TT-00420), is a first-in-class drug globally and is at the registration stage. Tinengotinib has the potential to treat various recurrent or refractory solid tumors (including cholangiocarcinoma, prostate cancer, breast cancer, biliary tract cancer, and pan-FGFR solid tumors). The company plans to commercialize Tinengotinib for the treatment of cholangiocarcinoma in China first, but there is no guarantee of the successful development and sale of the company's core products or any pipeline products. According to Frost & Sullivan data, the number of global cholangiocarcinoma patients increased from about 234,900 in 2018 to 280,000 in 2023. Approximately 62% of unresectable or metastatic cholangiocarcinoma patients receive second-line treatment, and 32% of patients receive at least third-line treatment. 25.2% of cholangiocarcinoma patients have FGFR mutations, with 7.4% of partial responders showing FGFR fusions and rearrangements. The company currently has no products approved for commercial sale and has not generated any revenue from product sales. During the reporting period, the company has not been profitable and has incurred operating losses. Pharmaron Nanjing's revenue mainly consists of milestone payments related to the out-licensing of TT-01025 from LG Chem. Financial data shows that in 2022, 2023, and the first 6 months of 2024, Pharmaron Nanjing had revenues of approximately 124,000 yuan, 1.181 million yuan, and 0 yuan, respectively. Corresponding annual losses during these periods were approximately 252 million yuan, 343 million yuan, and 160 million yuan, respectively.