Text: Forbes China.
On December 22, HighTide Pharma officially landed on the Hong Kong Stock Exchange. In this IPO, HighTide Pharma issued ** at 11. per share5 Hong Kong dollars, the opening price rose, as of ** reported 12HK$38, up 765%, with a total market capitalization of nearly HK$6.4 billion.
Founded in 2011, HighTide Therapeutics is a biopharmaceutical company focused on the discovery, development and commercialization of multifunctional and multi-target sites for metabolic and digestive diseases.
The company has independently developed a product pipeline consisting of 1 core product and 4 other product candidates. The company's core product, HTD1801 (berberine ursodeoxycholate), is a novel molecular entity that acts as an intestinal and hepatic anti-inflammatory and metabolic regulator, targeting multiple pathways that are critical to the body's metabolic processes, including those related to metabolic and digestive diseases.
From 2011 to 2022, HighTide Pharma has conducted a total of 7 rounds of financing, with a total financing of more than 2$700 million. The investment lineup includes investment institutions and industry giants such as Taifu Capital, Mingfeng Capital, Jiatai New Century Corporation, Greater Bay Area Common Home Development**, Tigermed, CITIC**, Tongchuangweiye, Wenzheng Assets, Hengzhi Investment, Boyu Capital, BOCG Blue Ocean Capital, China Development Bank Capital, Kaiheng Private Equity, Yuexiu Industry**, Yufeng Shengtai, etc., with a post-investment valuation of 5$300 million, about $38500 million yuan.
Like many innovative pharmaceutical companies, HighTide currently has no products on the market, only other revenue and revenue. In the past two years and the first half of 2023, it will be 13.82 million yuan, 20.58 million yuan and 22.72 million yuan respectively. During the same period, the company's net loss was 2100 million yuan, 2$200 million and $5800 million yuan.
In terms of working capital, the situation for companies is more optimistic. According to the prospectus, as of October 31 this year, the company's net current assets reached 5800 million yuan. This was mainly due to the company's relatively abundant cash and bank balances, which reached 6500 million yuan.