New Stock News | GaoGuang Pharmaceuticals - B Hong Kong Stock IPO Prospectus Invalid

Hangzhou Gaoguang Pharmaceutical Co., Ltd.-B (referred to as Gaoguang Pharmaceutical-B) submitted its Hong Kong stock prospectus on December 4, 2025. The prospectus expired on June 4, 2026, after six months, with CICC and CMB International acting as its joint sponsors. According to the previous prospectus, Gaoguang Pharmaceutical is dedicated to exploring and developing safe and effective therapies for global autoimmune/inflammatory disease patients, with a focus on neuroinflammation. The company has established a unique advantage in this challenging field with world-class candidate drugs for the treatment of Alzheimer's disease and Parkinson's disease. With end-to-end internal capabilities from target selection to candidate drug discovery and clinical development, the company has built a differentiated portfolio of assets covering various autoimmune and neurodegenerative disease indications, including four candidates in clinical stages and multiple candidates in preclinical stages. The company's core product TLL-018, along with TLL-041 and TLL-009, are the world's only highly selective TYK2/JAK1 inhibitors. TLL-018 is expected to become the first-in-class and best-in-class therapy for chronic spontaneous urticaria (CSU) and rheumatoid arthritis (RA). The company is currently conducting two Phase III registration trials for CSU and RA in China and plans to submit an NDA to the National Medical Products Administration by the end of 2026.