A visual decoding: ADC Innovative Drugs leader is making another attempt to enter the Hong Kong Stock Exchange, with ImmunoBiology's losses continuing to expand.

Recently, ImmunoBiology submitted its prospectus to the Hong Kong Stock Exchange again and still plans to list on the Main Board. On August 26, 2024, ImmunoBiology first submitted to the Hong Kong Stock Exchange but ended with a "failed" result.

ImmunoBiology is a global leader in the field of antibody-drug conjugates (ADC), dedicated to developing the next generation of ADC Innovative Drugs for patients with cancer and autoimmune diseases. Since its establishment in 2019, ImmunoBiology has mainly focused on the independent discovery and development of ADC Assets.

The prospectus shows that ImmunoBiology is committed to organic internal research and development, having developed four leading technology platforms and a pipeline that includes 12 self-developed ADC candidate drugs, covering a wide range of indications.

Currently, Ying'en Biotech has not obtained any approval for the market launch of candidate drugs and has not generated any revenue from product sales. During the record period, Ying'en Biotech's revenue primarily came from licensing and collaboration agreements, including revenue related to upfront payments, milestone payments, and reimbursements for research and development activities for externally licensed candidate drugs. For the nine months ending September 30, 2024, Ying'en Biotech's revenue decreased by approximately 12.8% year-on-year to 1.462 billion yuan (the same unit below).

At the same time, Ying'en Biotech recorded losses during the record period, and the losses for the first three quarters of 2024 widened by 397.7% year-on-year to 0.566 billion yuan.

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