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SinoMab Bioscience Ltd. ( (HK:3681) ) just unveiled an announcement.
SinoMab BioScience Limited has completed the subscription of new shares under a general mandate, issuing 157,107,000 shares, which represents approximately 11.54% of the company’s enlarged share capital. The net proceeds from these subscriptions, amounting to approximately HK$318,782,210, will be used for clinical trials, pre-clinical research, and general corporate purposes, with the funds expected to be fully utilized by the end of 2027. This strategic move is anticipated to strengthen SinoMab’s operational capabilities and support its ongoing and future drug development initiatives.
More about SinoMab Bioscience Ltd.
SinoMab BioScience Limited is a biotechnology company based in Hong Kong, focusing on the research, development, and commercialization of therapeutics for the treatment of immunological diseases. The company is involved in clinical trials and drug development programs, aiming to diversify its product portfolio and expand its market presence.
Average Trading Volume: 18,036,702
Technical Sentiment Signal: Buy
Current Market Cap: HK$3.87B
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