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Kintor Pharmaceutical Ltd ( (HK:9939) ) has issued an announcement.
Kintor Pharmaceutical Ltd has successfully completed the subscription of new shares, issuing 30,487,500 shares at HK$1.64 each, which represents approximately 6.11% of the company’s enlarged share capital. The net proceeds of approximately HK$49.78 million will be utilized for general working capital and to fund the phase III clinical trial of KX-826, a treatment for androgenetic alopecia. This strategic move enhances the company’s financial position and supports its ongoing clinical development efforts, potentially strengthening its market presence in the dermatology sector.
More about Kintor Pharmaceutical Ltd
Kintor Pharmaceutical Ltd is a biopharmaceutical company focused on developing innovative therapies for unmet medical needs, particularly in the areas of oncology and dermatology. The company is known for its research and development of treatments for conditions such as androgenetic alopecia and prostate cancer.
Average Trading Volume: 3,780,271
Technical Sentiment Signal: Buy
Current Market Cap: HK$954.2M
For detailed information about 9939 stock, go to TipRanks’ Stock Analysis page.