New Stock News | Pharmally International Holding Co. passes Hong Kong Exchange hearing, with accumulated losses exceeding 600 million Chinese yuan over the past two years.

According to the disclosure of the Hong Kong Stock Exchange on June 9th, Pharmaron Health (Nanjing) Technology Co., Ltd. (Pharmaron Health) conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CITIC SEC and Huatai International as its joint sponsors. According to the prospectus, Pharmaron Health is a biopharmaceutical company focused on clinical demand and in the registration clinical stage, specializing in the discovery and development of small molecule innovative therapies for tumors, inflammation, and cardiovascular metabolic diseases. With a comprehensive integrated internal research and development system, the company has independently discovered and developed a core product Tinengotinib (TT 00420) and established pipelines for five clinical stage candidate products and one preclinical stage candidate product. The company's core product, Tinengotinib, is a unique multi-target kinase ("MTK") inhibitor, mainly targeting three key pathways (FGFR/VEGFR, JAK, and Aurora kinases). As of June 4, 2025, Tinengotinib is undergoing two key/registration clinical trials for treating cholangiocarcinoma (CCA) progressing after previous FGFR inhibitor treatment, one in China and the other as a multi-regional clinical trial involving the United States. According to Frost & Sullivan data, the global CCA drug market is expected to reach $2 billion by 2024, with a compound annual growth rate of 16.2% from 2019 to 2024, projected to grow to $3.2 billion by 2027, with a compound annual growth rate of 17.1% from 2024 to 2027, and further increase to $4.6 billion by 2030, with a compound annual growth rate of 12.8% from 2027 to 2030. In addition, the company is exploring the use of Tinengotinib for the treatment of metastatic castration-resistant prostate cancer (mCRPC), breast cancer, biliary tract carcinoma (BTC), and pan FGFR solid tumors, and has completed Phase II clinical studies for these indications. Based on the National Medical Products Administration approval for IND, the company also plans to evaluate the efficacy of Tinengotinib in combination with pembrolizumab or ipilimumab in Phase II trials for the treatment of hepatocellular carcinoma (HCC). The company's global partners include leading pharmaceutical companies such as LG Chem, Roche, Teijin, and EA Pharma. The company's partnership relationships cover various business cooperation models, including clinical cooperation, joint research and development, and licensing agreements. Currently, the company has no products approved for commercial sale and has generated no revenue from product sales. During the previous reporting period, the company's revenue mainly consisted of milestone payments from LG Chem related to the licensing of TT-01025. During the reporting period, the company has not been profitable and has incurred operating losses. Financial data shows that in 2023 and 2024, Pharmaron Health had revenues of approximately RMB 1.181 million and RMB 0, respectively, with corresponding annual net losses of approximately RMB 343 million and RMB 275 million.