Futu News reported on December 22nd,$HIGHTIDE-B (02511.HK)$The opening was high. As of press release, it rose 3.65% to HK$11.92, with a turnover exceeding HK$25 million and a total market value of over HK$6 billion.
Market source: Futu Securities>
According to previous public information, in Futu's dark market trading on the previous trading day, Junshengtai Pharmaceutical-B opened higher and closed up 5.39% to HK$12.12, with a turnover of HK$5.6336 million, with a total market value of HK$6.239 billion; each lot of 500 shares, with no handling fees, earned HK$310 per lot.
According to reports, the Junshengtai Pharmaceutical-B public sale contract received a total of 4,831 valid applications. The number of applications accepted was 2,133. The approximate percentage of the total number of applications received for the purchase of first-batch H shares was 13.65%.
Company Overview
Junshengtai Pharmaceutical-B was founded in 2011 as a biopharmaceutical company focusing on the discovery, development and commercialization of multifunctional and multi-target therapies for the treatment of metabolic and digestive diseases. The company has independently developed a product pipeline including 1 core product and 4 other candidate products. The company's core product, HTD1801 (berberine ursodeoxycholate), is a new molecular entity that acts as an enterohepatic anti-inflammatory and metabolic regulator that targets multiple pathways critical to human metabolic processes, including those associated with metabolic and digestive diseases.
HTD1801 is a novel salt composed of two active components berberine and ursodeoxycholic acid. It has shown good safety and efficacy in several clinical trials, including: the US phase IIa study on metabolic steatohepatitis; the phase II study and phase Ib study of type 2 diabetes in China; the phase II study of primary sclerosing cholangitis in the US and Canada; the phase II study of primary biliary cholangitis in the US; and the phase IIIa study on hypercholesterolemia in Australia. The company believes that the good safety and efficacy of HTD1801 strongly supports its potential as a “cure for different diseases” product in the treatment of selected metabolic and digestive disorders that are not ideal or have not been approved for treatment.
Financial Overview
In terms of financial conditions, the company did not generate any profit during the past performance period and as of the last practical date. The R&D costs for 2021, 2022 and the six months ended June 30, 2023 were RMB 84 million, RMB 182.7 million and RMB 120.1 million respectively. The company expects expenses to increase significantly in connection with ongoing activities, particularly as clinical development of clinical assets is advanced, and the continued development of pre-clinical assets and the commencement of additional clinical trials of such drug candidates and other future drug candidates, and is seeking regulatory approval in this regard.
