CSTONE PHARMA-B(02616) plans to issue up to 80 million shares, raising approximately HK$2.32 billion.

CSTONE PHARMA-B(02616) announced that on April 2, 2025, the company plans to issue a total of 80 million shares at a price of HK$2.933 per share, representing approximately 5.86% of the enlarged issued share capital after the issuance. Assuming all 80 million shares are fully subscribed, the total proceeds from the issuance will be HK$235 million, with an estimated net proceeds of HK$232 million. The net proceeds are expected to be used as follows: 90% for further research and development related to assets in the group's "Pipeline 2.0," especially CS5001 (a clinical-stage ROR1 ADC) and CS2009 (a triple-specific molecule targeting PD-1, VEGFA, and CTLA-4, potentially the first-in-class/optimal next-generation tumor immune framework); and the remaining net proceeds will be used for other general corporate purposes as needed.