China‑based GenFleet Therapeutics (Shanghai) Inc. (HKG: 2595) completed a successful initial public offering (IPO) on the Hong Kong Stock Exchange’s Main Board. The company offered 77,600,000 H‑shares at HK$20.39 per share, generating a gross proceeds of HK$1.582 billion and net proceeds of HK$1.444 billion after underwriting fees.
IPO Highlights
Metric
Value
Shares Issued
77.6 million H‑shares
Offer Price
HK$20.39 / share
Gross Proceeds
HK$1.582 billion
Net Proceeds
HK$1.444 billion
Listing Date
11 Sep 2025
Ticker
2595.HK
Company Snapshot
Founded: 2017, based in Shanghai
Stage: Clinical‑stage biopharma focused on oncology, autoimmune and inflammatory diseases
Pipeline: 8 candidates, 5 in clinical development (GFH925, GFH375, GFS202A, GFH312, others)
Core Products
Candidate
Target
Status
Notable Milestone
GFH925 (Fulzerasib)
KRAS G12C inhibitor
Approved in China (Dec 2023)
First KRAS G12C inhibitor approved in China for advanced NSCLC post‑standard therapy
GFH375
KRAS G12D inhibitor
Phase I/II in China
Investigated in advanced solid tumors harboring KRAS G12D mutation
Other Novel‑Target Programs
GFS202A – GDF15/IL‑6 bispecific antibody (BsAb)
GFH312 – RIPK1 kinase inhibitor
Additional candidates targeting inflammatory pathways and solid tumor antigens
Financial Overview (2023‑Q1 2025)
Period
Revenue (RMB million)
Net Loss (RMB million)
2023
73.73
508
2024
105
678
Q1 2025
82.15
66.62
The company continues to invest heavily in R&D, driving the net loss figures.
Market Implications
Capital Infusion – The IPO provides GenFleet with a robust capital base to accelerate pipeline development and potentially expand into new therapeutic areas.
KRAS Focus – As the first Chinese‑approved KRAS G12C inhibitor, GenFleet is positioned to capture a rapidly growing precision‑medicine market.
Investor Sentiment – Strong demand for the shares reflects confidence in GenFleet’s technology platform and pipeline, especially its dose‑adjustable bispecific antibody and kinase inhibitor programs.-Fineline Info & Tech
By Fineline Cube 