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An update from Hansoh Pharmaceutical Group Company Limited ( (HK:3692) ) is now available.
Hansoh Pharmaceutical Group has completed the issuance of HK$4.68 billion zero-coupon convertible bonds due 2033, with net proceeds of about HK$4.64 billion, and secured approval for listing the conversion shares in Hong Kong as well as admission of the bonds to trading on the Vienna MTF. The company plans to allocate roughly 65% of the funds to drug R&D and in-licensing, supporting an extensive pipeline of mid-to-late-stage clinical programs in oncology and other therapeutic areas and signaling an intensified push to deepen its preclinical portfolio, bolster international competitiveness and create more partnering and commercialization opportunities in China and globally.
The most recent analyst rating on (HK:3692) stock is a Buy with a HK$48.20 price target. To see the full list of analyst forecasts on Hansoh Pharmaceutical Group Company Limited stock, see the HK:3692 Stock Forecast page.
More about Hansoh Pharmaceutical Group Company Limited
Hansoh Pharmaceutical Group Company Limited is a Hong Kong-listed biopharmaceutical company focused on developing and commercializing innovative drugs, particularly in oncology, central nervous system, metabolic and autoimmune diseases. The group operates a sizable research and development engine with more than 70 clinical trials under way for over 40 innovative drug candidates, and actively uses in-licensing to expand its pipeline and accelerate commercialization in the Chinese market while exploring global development opportunities for selected programs.
Average Trading Volume: 8,167,526
Technical Sentiment Signal: Hold
Current Market Cap: HK$233.7B
See more insights into 3692 stock on TipRanks’ Stock Analysis page.