Zhejiang-based TYK Medicines Inc. (HKG: 2410) has filed for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKSE). The company reported revenues of RMB 44 million and a loss of RMB 312 million in 2022, primarily generated through a licensing agreement with Livzon Pharma. In the first nine months of 2023, TYK Medicines reported no income, with losses increasing by 30.79%.
Financial metrics reveal trade and other payables totaling approximately RMB 92 million, other long-term payables at RMB 82 million, cash and cash equivalents of RMB 80 million, and RMB 20 million in wealth management products. Founded in 2017, TYK Medicines has developed a pipeline of 11 drugs, including its key products: the third-generation EGFR inhibitor TY-9591 and TY-302, a CDK4/6 inhibitor targeting HR+/HER2- locally advanced or metastatic breast cancer. Additionally, five innovative drugs are currently in clinical stages, while four are in pre-clinical development.- Flcube.com
