New Stock News | Jingfang Pharmaceutical Submitted Application to Hong Kong Stock Exchange. The company focuses on developing new treatment solutions in areas such as oncology. Its core products include GFH925 and GFH375.

According to the disclosure from the Hong Kong Stock Exchange on June 27th, Genor Biopharma (Shanghai) Co., Ltd. (referred to as Genor Biopharma) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CITIC SEC as the exclusive sponsor. According to the prospectus, Genor Biopharma is a biopharmaceutical company focused on developing new treatment solutions in the areas of oncology (covering different treatment lines for various solid tumors) as well as autoimmune and inflammatory diseases. As of the last practicable date, the company has established a product pipeline consisting of eight candidate drugs, with five in clinical development, including two core products GFH925 and GFH375. GFH925 (fulzerasib, brand name Dabotert) is a new drug discovered by the company, commercially approved in China for the treatment of advanced non-small cell lung cancer (NSCLC), making it the first and the third globally approved selective Kirsten rat sarcoma (KRAS) G12C inhibitor in China. GFH375 is an oral bioavailable small molecule inhibitor for KRASG12D. The company has initiated the phase II part of a phase I/II clinical trial in China for patients with advanced solid tumors carrying KRASG12D mutation. In addition to its core products, the company is dedicated to enriching its product pipeline beyond the RAS drug matrix, such as GFS202A, a self-developed dual-specific antibody targeting GDF15 and IL-6. The pipeline also includes GFH312, a potent small molecule drug developed in-house, targeting receptor interaction protein kinase 1 (RIPK1) and inhibiting its kinase activity. The company has obtained FDA approval for an IND to conduct phase II trials in the US to evaluate the safety and efficacy of GFH312 in patients with peripheral arterial disease (PAD) with intermittent claudication (IC). The company has also received approval from the National Medical Products Administration to conduct a phase II clinical trial for GFH312 in China for the treatment of primary biliary cholangitis (PBC). Genor Biopharma's diversified product pipeline is a natural outcome of a mature integrated research and development platform, which covers target discovery, molecule discovery and evaluation, translational science, global clinical development, and is supported by expertise in key areas such as formulation research and quality analysis in chemistry, manufacturing, and controls (CMC). In the financial aspect, in the fiscal years 2023 and 2024, Genor Biopharma's research and development expenses are approximately RMB 313 million and RMB 332 million respectively, accounting for 86.2% and 85.1% of the total operating expenses (defined as the sum of research and development expenses and administrative expenses) for the respective periods. Due to the company's plans to expand indications, continue clinical development of core products, advance more candidate pipeline products into clinical trials, and conduct more preclinical studies, it is expected to continue to invest heavily in research and development projects. In terms of financials, in the fiscal years 2023 and 2024, Genor Biopharma's revenue is approximately RMB 73.734 million and RMB 105 million respectively; while the losses for the respective periods are approximately RMB 508 million and RMB 678 million. The net losses recorded in the historical period and their fluctuations are mainly related to the company's significant investments in research and development activities; and changes in the fair value of liabilities for equity redemption due to the increase in company value.