A-share subscription | Biomedical enterprise Nobitech (688759.SH) starts subscription 5 products are in Phase I clinical trial stage

On October 17, BiBeiTe (688759.SH) started its subscription with an issuing price of 17.78 yuan per share and a subscription limit of 14,000 shares. It is listed on the Shanghai Stock Exchange, with CITIC SEC as its sponsor institution. According to the prospectus, BiBeiTe is a biopharmaceutical company focused on innovative drug development guided by clinical value. The company focuses on major disease areas such as tumors, autoimmune diseases, and metabolic diseases. As of the date of the prospectus, the company has one "breakthrough therapeutic drug" BEBT-908 (Iproniazid hydrochloride for injection) approved for third-line and above treatment of r/rDLBCL, BEBT-209 is in phase III clinical trials, BEBT-109 has been approved for phase III clinical trials, and 5 products are in phase I clinical trials. In addition, the company has multiple innovative drug products in preclinical research stages. It is reported that BEBT-908 is a global first-in-class small molecule dual-target inhibitor designed for HDAC/PI3K, used in the treatment of various hematological malignancies and solid tumors. BiBeiTe claims that as of June 30, 2025, apart from BEBT-908, there have been no other approved HDAC/PI3K inhibitors worldwide, and there are no similar dual-target inhibitors under research in China. In terms of finance, for the years 2022, 2023, and 2024, the company's net profit is estimated to be approximately -188 million yuan, -173 million yuan, and -55.9983 million yuan respectively. BiBeiTe stated that the company is not profitable at the moment, and in order to advance the development progress of its pipeline products, it is expected that the company will require substantial ongoing research and development investment in the future. Research and development expenses will continue to be at a high level, and the company may not achieve profitability in the short term, leading to a possibility that the company may not be able to distribute profits or cash dividends in the short term.