On March 25, 2022, Beijing time, Kintor Pharmaceutical (Stock Code: 9939.HK), a biopharmaceutical company focused on the R&D and commercialization of potentially first-in-class and best-in-class innovative drugs, announced its recent business highlights and full-year financial results as of December 31, 2021.
Overview of Key Highlights for the 2021 Financial Results
● Revenue AchievementBreakthrough from 0 to 1, reaching RMB 34.23 million, derived from the upfront payment of the licensing agreement for Proxalutamide's COVID-19 indication.
● Continuous improvementHighGlobal Innovation CapabilityTwo registered Phase III global multicenter clinical trialsFollowing FDA approval in the United States, four clinical-stage innovative drugs are expanding the company’s international development footprint, positioning it as a ‘pioneer’ for Chinese innovative drug companies going global.
● New drug R&D enters the harvest period, with indications for COVID-19, prostate cancer, and topical alopeciaIt is projected thatNDA applications to be submitted this year and next.
● Completed the first follow-on offering after listing, raising approximately 1.16 billion yuan in net proceedsHong Kong dollar(equivalent to 150 million US dollars).Only 20% of 18A companies have achieved follow-on financing after listing*.
● PublicThe company's shares have been included inthe Shanghai-Hong Kong Stock Connect and Hang Seng Composite Index.and other indices, reflecting the capital market's recognition and expectations of the company’s innovative capabilities.
● Significant increase in commercial production capacity, currently with a monthly production capacity of 1 million doses of proxalutamide, expected to reach an annual capacity of 50 million doses by the end of this year.
*Excluding Biotech companies that have been listed for less than 6 months and do not yet meet the conditions for an IPO.
Pioneering medicine...