On the evening of May twenty _ fourthBestcryptoplaytoearngames2022Xuanzhu Biotechnology Co., Ltd. (referred to as "Xuanzhu Biology") terminated Kechuangban IPO application.
A reporter from the Shanghai Securities News noted that Xuanzhu Biology is a Hong Kong listed company called Sihuan Pharmaceutical.Bestcryptoplaytoearngames2022The holding subsidiary of the company has more distinctive characteristics. Its declaration IPO chose Science and Technology Innovation Board's fifth set of listing criteria, but its consideration has been suspended for a year or two before withdrawing its IPO application.
Suspend deliberation for one year or two months
Reviewing the application process of Science and Technology Innovation Board IPO of Xuan Zhu Bio can be traced back to May 4, 2022.
At that time, Sihuan Pharmaceutical announced that the company planned to spin off its holding subsidiary Xuanzhu Bio to A-share listing, which included providing a separate and independent financing platform for Xuanzhu Bio, which in turn provided funds for its growth and expansion.
On September 26th, 2022, the Chuangban IPO of Xuanzhu Biological reporting Department was accepted, but after being questioned on October 14, 2023, the Shanghai Stock Exchange Municipal Committee meeting decided to suspend the deliberation.
At that time, the listing committee of the Shanghai Stock Exchange paid attention to two problems of Xuanzhu Bio and asked it to further disclose the relevant matters.
First, Xuan bamboo biology should be combined with the relevant national policy requirements, the actual situation of product research and development, technical reserves and so on, its main products in research and development compared with domestic listed products and other competitors in product research, technical advantages.
Second, Xuan Bamboo Bio should explain the main considerations and calculation methods of the expected peak sales permeability of its main products, whether it meets the requirements of "large market space", as well as its commercial planning and advantages over other competitors.
Since then, when the application for listing was terminated on May 24, 2024, there was no substantial progress in Science and Technology Innovation Board's IPO process, during which only the financial information recorded in the listing application document was updated.
The Xuanzhu biology terminates the declaration branch to create a board IPO, can learn the reason from the relevant announcement of the fourth ring medicine disclosure.
On May 24, 2024, Sihuan Pharmaceutical announced that the company's board of directors and Xuanzhu Bio decided to withdraw their IPO application based on the business development and strategic planning of Xuanzhu Biology.
The risk of listing has been warned before.
The Shanghai Stock Exchange listing Committee had repeatedly asked Xuanzhu Bio about the technical advantages of its products under research, follow-up commercialization planning and market space and other matters. Mainly Xuanzhu biology no core products, and no revenue, no profit, and choose Science and Technology Innovation Board the fifth set of listing standards.
Xuanzhu Bio is an innovative pharmaceutical company, focusing on major diseases such as digestion, tumor and non-alcoholic steatohepatitis, and is committed to continuously developing and commercializing class 1 new drugs with core independent intellectual property rights. to solve the clinical unmet treatment needs, with small molecular chemical drugs and macromolecular biological drugs two major research and development systems.
On March 1, 2023, Xuanzhu Bio submitted a prospectus (draft), which shows that the company has not yet been approved to market drugs, and has no relevant experience in successfully obtaining drug registration documents. Because the marketing system is still in the process of building, there is no commercial sales experience of new drugs.
As of the prospectus (draft), Xuanzhu Bio has pushed 7 products to the clinical and subsequent development stage. Among them, one product is in the NDA (new drug marketing application) review stage, two products are in the clinical III phase, another one is in the ANDA (generic drug application) review stage, and three self-developed products in the clinical stage are transferred or authorized.
According to industry insiders, innovative drug research and development has certain R & D risks, and the sustainable development of pharmaceutical companies' product lines depends on the continuous output of their R & D capabilities, but there is no guarantee that they can continue to develop products with clinical value.
The operating income of Xuanzhu in 2019, 2020, 2021 and the first three quarters of 2022 was 0, and the net profit lost 3% respectively.Bestcryptoplaytoearngames2022.62 billion yuan, 1Bestcryptoplaytoearngames202262 million yuan, 462 million yuan and 397 million yuan.
In its prospectus, Xuan Zhu Bio suggested that the company may still maintain a large amount of R & D spending in the future, but it cannot guarantee R & D success, or even if R & D is successful, it may not be profitable. If Xuanzhu biology is unprofitable and its operating income is less than 100 million yuan, or the accumulated uncompensated losses may continue to expand, it may trigger the risk of financial compulsory delisting conditions stipulated in rule 12.4.2 of the Science and Technology Innovation Board listing rules.
The promotion of fund-raising projects has attracted much attention.
Xuanzhu Bio previously reported that Kechuangban IPO had raised funds and planned to invest a total of 2.47 billion yuan in three projects, namely, innovative drug research and development projects, headquarters and innovative drug industrialization projects, and supplementary liquidity.
At that time, Xuan Zhu Bio mentioned in the prospectus (last draft) that the company's proposed investment project was closely related to the existing major business and core technology, which was conducive to supporting and promoting the healthy, efficient and sustainable development of the company's business.
In particular, this issue of Xuanzhu Bio will further support its investment in innovative drug research and development and industrialization, and efficiently promote its clinical trials of a variety of innovative drugs under development; the construction of Shijiazhuang headquarters and innovative drug industrialization base will further improve the innovative drug industrialization system.
In this regard, Xuanzhu Bio gives a development plan for the next three to five years: first, to promote the company's pipeline product research and development efficiently and steadily. The second is to expand production capacity to meet the capacity needs of clinical research and commercialization. The third is to set up a marketing system to prepare for the commercialization of products. Fourth, expand external business cooperation and further optimize R & D investment and product layout.
Today, Xuanzhu Biological termination Board IPO declaration, how to promote investment projects and how to plan for future development, it is worth waiting to see.