Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Ascletis Pharma, Inc. ( (HK:1672) ) has provided an update.
Ascletis Pharma Inc. has entered into a placing agreement to issue 69,256,000 new shares, representing about 6.98% of its existing share capital, at HK$12.18 per share to at least six institutional and other independent investors, at a discount to recent market prices. The placement is expected to raise approximately HK$835.3 million in net proceeds, of which around 90% will fund preparation and launch of global Phase III trials for its small molecule oral GLP-1 receptor agonist ASC30 targeting obesity, with the remainder allocated to working capital and general corporate purposes, potentially strengthening the company’s capital position and advancing its competitive stance in the fast-growing obesity drug market, subject to fulfilment of conditions and the placing agent not exercising termination rights.
The most recent analyst rating on (HK:1672) stock is a Hold with a HK$14.00 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 Cayman Islands-incorporated biopharmaceutical company listed in Hong Kong, focused on developing and commercializing innovative therapies, including small molecule oral drugs, with a current strategic emphasis on treatments for obesity and related metabolic diseases.
Average Trading Volume: 5,260,334
Technical Sentiment Signal: Buy
Current Market Cap: HK$13.69B
For an in-depth examination of 1672 stock, go to TipRanks’ Overview page.