IPO Pricing | Sanofi Pharma received 5.68 times oversubscription, priced at 65.9 Hong Kong dollars per share.

Futu News on December 29th, Wednesday$SIRNAOMICS-B (02257.HK)$Announcement: The company is issuing 7.54 million shares, priced at 65.9 Hong Kong dollars per share, with a board lot size of 50 shares, expected to be listed on December 30th.

During the public offering phase, Sanofi Pharma-B received approximately 5.68 times oversubscription, with the final number of shares offered under public offering at 0.754 million, accounting for 10% of the total number of shares offered (before any exercise of the over-allotment option). A total of 6124 valid applications were received, with a successful allotment rate of 21.77% for one board lot, subscribing for one lot in five lots.

In addition, the international offering was oversubscribed, with the final number of shares offered at 6.786 million, equivalent to 90% of the total number of shares offered (before any exercise of the over-allotment option). Futu News has compiled the relevant data as follows:

In terms of fundraising purposes, the company plans to use the net proceeds of approximately 0.396 billion Hong Kong dollars for the following purposes: approximately 57.9% will be used to provide funding for the development and commercialization of STP705, approximately 15.6% will be used for the development of STP707, approximately 15.4% will be used to fund the company's GalNAc program products, such as STP122G, STP133G, and STP144G, as well as other preclinical stage candidate products; approximately 7.3% will be used for the research and development of other preclinical candidate drugs, and approximately 3.8% will be used for general corporate and working capital purposes.

Sanomics is an RNA therapy biopharmaceutical company with candidate products in preclinical and clinical stages, focusing on exploring and developing innovative drugs for the treatment of medical needs and significant market opportunities. The company was founded in 2007 with the establishment of Sirnaomics in the USA, currently holding market positions in both China and the USA, with research centers in both countries.

The company's core product STP705 has been confirmed for efficacy and safety in the phase I/II clinical trials for non-melanoma skin cancer, and will further advance STP705 for phase II clinical trials for squamous cell carcinoma in situ (isSCC), phase II clinical trials for the treatment of skin basal cell carcinoma (BCC), phase II clinical trials for the treatment of hypertrophic scars, and phase I/II clinical trials for the treatment of hyperplastic scars (HTS).On the actual feasible date, the United States has authorized two patents and seven patent applications pending covering the company's core product STP705, with two in China and five in the USA.

Financially, the company has not yet generated any revenue from product sales. For the first 9 months of 2019, 2020, and 2021, the company recorded a total net loss of 17.127 million US dollars, 46.428 million US dollars, and 50.001 million US dollars respectively. The vast majority of the net losses are due to research and development expenses, fair value changes in the financial liabilities recognized at fair value through profit or loss, and administrative expenses.

In terms of the industry, the global market size for RNAi therapy for all indications increased from 12 million US dollars in 2018 to 362 million US dollars in 2020, with a compound annual growth rate of 449.2%, estimated to reach 25 billion US dollars by 2030. By 2030, the market size for RNAi therapy applied to common diseases and oncology will account for 54% of the total market size.

The market size of RNAi therapy in China is expected to increase from approximately 4 million US dollars in 2022 to over 300 million US dollars in 2025, with a compound annual growth rate of over 300%, estimated to reach about 3 billion US dollars by 2030.

Editor/Ceemon

157K Views