New stock news | Jingfang Pharmaceuticals-B (02595) oversubscribed subscription amount exceeds HK$34.98 billion, oversubscribed 2210 times.

Jinfan Medicine-B (02595) conducted its IPO from September 11th to 16th. Data shows that Jinfan Medicine recorded 349.85 billion Hong Kong dollars in subscriptions, with the initial public offering portion accounting for 1.58 billion Hong Kong dollars, oversubscribed 2210 times. It is reported that Jinfan Medicine plans to issue 77.6 million H shares, with one-tenth publicly offered in Hong Kong at a price of HK$20.39 per share, raising HK$1.58 billion, with a minimum subscription size of 200 shares and an entry fee of HK$4119.1. Jinfan Medicine is expected to be listed in Hong Kong on September 19th, with CITIC SEC as the exclusive sponsor. Jinfan Medicine does not have a mandatory clawback mechanism, and the public offering portion can be increased at discretion up to 15%. Jinfan Medicine focuses on the development of new treatment options for tumors (covering different treatment lines for various solid tumors) as well as autoimmune and inflammatory diseases, establishing a product pipeline including 8 candidate products, with 5 in clinical development, including two core products - GFH925 and GFH375. Among them, "GFH925 (fulzerasib, trade name Dabot)" is a new drug discovered independently by the company, commercially approved in China for the treatment of advanced non-small cell lung cancer (NSCLC), currently undergoing a Phase II KORCUS trial in the EU. Another core product, "GFH375," is an oral small molecule inhibitor specifically targeting the KRAS G12D mutation, applicable to pancreatic cancer, colorectal cancer, and non-small cell lung cancer, with a Phase II part of a Phase I/II clinical trial initiated in China for late-stage solid tumor patients carrying the KRAS G12D mutation. The company plans to allocate approximately 33% of the net proceeds to fund the clinical development of the core product GFH925, approximately 38% for the clinical development of the core product GFH375, approximately 19% for further development of other candidate products in the pipeline, and approximately 10% for operating expenses and other general business purposes.