New Stock News | Prohealth Pharmaceutical Submitted Application to Hong Kong Stock Exchange, Company Has Not Yet Made a Profit as of Now

According to the disclosure of the Hong Kong Stock Exchange on August 31st, FuKang Biotechnology (Shanghai) Co., Ltd. (referred to as FuKang Pharmaceutical) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Agricultural Bank International, CMBC CAPITAL, and FOSUN INTL Capital as its joint sponsors. The prospectus shows that FuKang Pharmaceutical was established in November 2015 and is a commercial-stage biopharmaceutical company with a vision of developing breakthrough therapies and driven by high-efficiency innovation. The company focuses on the development of breakthrough therapies in the treatment of cancer-related diseases, as well as the development and commercialization of innovative drugs for viruses and aging-related diseases. The company adopts a dual-track strategy of commercialization and clinical development, rather than solely focusing on research and development. The company's core products include: (i) CVL009, classified as a category 2.4 improved new drug. The company is currently conducting Phase II clinical trials on CVL009 for non-small cell lung cancer patients with rare HER1 mutations, HER2-positive gastric cancer with brain metastasis, and in combination therapy with capecitabine; and (ii) CVL218, a new second-generation highly selective PARP inhibitor for the treatment of late-stage solid tumors. The company has established a diversified product portfolio consisting of one commercial product, two core products, two key products, and 12 other investigational drugs. Among these 16 candidate drugs, five are in clinical development phase I/II, seven are in preclinical development phase, and four are generic drug candidates. The company's research projects mainly focus on cancer treatment, antiviral, and anti-aging areas, with a focus on broad-spectrum anti-tumor drugs in the field of cancer treatment. In addition to its commercialization strategy, the company has established and plans to continue to establish partnerships with leading international and domestic pharmaceutical companies to expand its geographical coverage. Furthermore, the company also uses the "one drug for multiple indications" (PIP) model for research and development, by designing a single drug to cover multiple indications, essentially integrating the functions of the entire product pipeline into a single product. Examples of the company's use of the PIP model include expanding new indications for CVL009 based on Hanaijia, as well as other candidate drugs such as CVL006 (a PD-L1/VEGF bispecific antibody that can inhibit tumor angiogenesis while reactivating the immune response) and CVL237 (a dual highly selective inhibitor targeting PTEN-deficient solid tumors PI3K/). It is worth noting that the company may not be able to successfully develop and/or commercialize additional indications for its core and/or main products. Financially, during the past performance period, the company's revenue mainly came from the sale of drugs, specifically the commercialization of Hanaijia in June 2024. For the periods ending December 31, 2023 and 2024, and June 30, 2025, the company recognized revenues of zero, approximately RMB 17.825 million, and approximately RMB 34.675 million, respectively. The company recorded operating losses during the past performance period, reporting annual/periodic losses of approximately RMB 94.655 million, RMB 74.525 million, and RMB 35.934 million respectively for the periods ending December 31, 2023 and 2024, and June 30, 2025, mainly due to research and development expenses, financial costs, and administrative expenses.