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ARTICLE | Financial News

Nov. 8 Financial Quick Takes: First day of trading for BrightGene, Tot; plus argenx, Agios and AiCure

November 9, 2019 12:49 AM UTC
Updated on Nov 9, 2019 at 1:23 AM UTC

BrightGene shines in STAR debut
BrightGene Bio-Medical Technology Co. Ltd. (Shanghai:688166) gained RMB17.90 (141%) to RMB30.61 in its first day of trading on Shanghai’s STAR board. The company raised RMB521.1 million ($74.1 million) in an IPO last month that valued the company at RMB5.2 billion; it had planned to raise RMB360 million in its offering. BrightGene’s pipeline includes oral GLP1R agonist peptides for Type II diabetes, immuno-oncology agents, antibody-drug conjugates for solid tumors and other tumor-targeting drug conjugates for brain cancer.

Tot Biopharm Co. Ltd. (HKSE:1875) ended its first day on the Hong Kong stock exchange's biotech chapter down HK$0.29 to HK$6.26, shaving HK$165.3 million ($21.1 million) off the cancer company’s market cap and valuing it at HK$3.6 billion. ...