HK Stock Market Move | TRANSTHERA-B (02617) fell more than 3% and plans to offer a discount of nearly 18% for the rights issue, raising net proceeds of 1.9 billion Hong Kong dollars.

TRANSTHERA-B (02617) fell more than 3%, dropping to 3.71% as of the press release, reporting 109 Hong Kong dollars with a turnover of 23.576 million Hong Kong dollars. On the news front, Pharmaron Health announced a placement of 2.1 million shares, equivalent to approximately 0.69% of the enlarged H-shares and approximately 0.53% of the total number of shares issued. Priced at 92.85 Hong Kong dollars per share, at a discount of approximately 17.98% from the closing price of 113.2 Hong Kong dollars on January 13. The placement is expected to raise approximately 190 million Hong Kong dollars in net proceeds, with about 60% intended for funding the clinical trials of its core product Tinengotinib as a single therapy for cholangiocarcinoma (CCA) in China, as well as research and development for other indications of the core product; about 30% for the research and development of other products, including TT-00973, TT-01488, and other molecules; and about 10% for working capital and general corporate purposes.