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An update from Ascletis Pharma, Inc. ( (HK:1672) ) is now available.
Ascletis Pharma, Inc. announced a placing and top-up subscription agreement involving the sale of 52,400,000 existing shares and the issuance of 28,820,000 new shares. The transaction is expected to raise approximately HK$467.69 million in net proceeds, which will be primarily used for advancing clinical trials for obesity treatments and general corporate purposes. This strategic move is aimed at strengthening the company’s financial position and supporting its R&D initiatives, although it will result in a slight reduction of the controlling shareholders’ stake in the company.
The most recent analyst rating on (HK:1672) stock is a Hold with a HK$3.94 price target. To see the full list of analyst forecasts on Ascletis Pharma, Inc. stock, see the HK:1672 Stock Forecast page.
More about Ascletis Pharma, Inc.
Ascletis Pharma, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative drugs. The company primarily targets the treatment of liver diseases, viral infections, and cancer, with a strong emphasis on research and development of drug candidates, including subcutaneously injected peptides and oral peptides.
Average Trading Volume: 6,158,972
Technical Sentiment Signal: Buy
Current Market Cap: HK$17.2B
See more data about 1672 stock on TipRanks’ Stock Analysis page.