Biostar prepares for $42 million IPO in Hong Kong
Biostar Pharmaceuticals has announced its upcoming initial public offering (IPO) on the Hong Kong Stock Exchange, aiming to raise funds to advance its growing oncology pipeline and support its global expansion efforts.
The biopharma company, founded in 2002 and based in China, specializes in synthetic biology-driven cancer treatments and has developed several proprietary drug candidates.
The IPO offering will include 14.6 million shares at a price of up to HK$22 per share. The company intends to use the proceeds to accelerate the development of its lead candidate, utidelone, an innovative microtubule stabilizer.
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