By Fineline Cube 
Cloudbreak Pharma Inc. has submitted another initial public offering (IPO) filing to the Hong Kong Stock Exchange this week, with CCB International and Huatai International acting as joint sponsors. The clinical-stage ophthalmic biotech firm specializes in the independent research and development of treatments for eye diseases. Cloudbreak established its first major operating entity in the United States in 2015 and was incorporated in the Cayman Islands in 2020.
Pipeline Highlights
Cloudbreak’s pipeline includes two core candidates: CBT-001 and CBT-009. CBT-001 is undergoing multi-regional Phase III clinical trials in the US and China for pterygium. CBT-009, targeting myopia in children and adolescents (aged 5–19), completed Phase I/II trials in 2023 and was filed for clinical study in the US in 2024. The company also has additional clinical-stage assets and four preclinical candidates.
Financial Overview
In 2024, Cloudbreak reported revenue of approximately USD 10 million. R&D expenditures stood at USD 37.95 million, with an annual net loss of USD 99.13 million. From 2022 to 2024, cumulative R&D spending reached USD 84.53 million, underscoring the company’s commitment to advancing its therapeutic pipeline.-Fineline Info & Tech