Shanghai Henlius Biotech Co., Ltd (HKG: 2696) has announced the suspension of its initial public offering (IPO) to the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR), prioritizing capital market planning. The company assures that this decision will not affect its daily operations. Henlius initially planned to dual-list on the STAR in March 2020, with the aim of optimizing its corporate governance structure, enhancing shareholder liquidity, and expanding financing channels to bolster its biopharmaceutical research and industrialization efforts.
Continued Focus on Biopharmaceutical Main Business
Despite the suspension of the IPO, Henlius remains committed to its core business in biopharmaceuticals. The company’s decision to suspend the IPO is part of a broader strategy to maximize value for shareholders and support the company’s long-term growth.
Profit Forecast for 2023 Driven by Biosimilar and PD-1 Inhibitor Sales
In a separate announcement, Henlius issued a profit forecast for the first half of 2023, with revenues expected to reach RMB 200 million (USD 27.7 million). This growth is attributed to the increasing sales of Hanquyou (trastuzumab; HLX02), Henlius’s biosimilar version of Roche’s breast and stomach cancer medicine Herceptin, and the company’s in-house programmed death-1 (PD-1) inhibitor HanSiZhuang (serplulimab). The forecast also credits improved cost controls for the anticipated revenue increase.-Fineline Info & Tech
