BioCentury
ARTICLE | Finance

Hong Kong’s first wave

How Ascletis’ performance could affect up to 100 biotechs hoping to list on HKEX

August 4, 2018 12:59 AM UTC

Having broken the seal on the new biotech chapter of Hong Kong Exchange and Clearing Ltd., the performance of Ascletis Pharma Inc. and the next few companies to go out could determine what happens to as many as 100 other companies hoping to float over the next 18 months.

Now that BeiGene Ltd. has priced its secondary offering on the exchange, the current queue contains seven companies that will likely go out over the next two to five months. That includes two U.S. biotechs -- mitochondrial disease company Stealth BioTherapeutics Corp. and microbiome play AOBiome Therapeutics Inc. -- hoping the exchange will reward them with more money and larger valuations than they could achieve at home even during the boom in new offerings on NASDAQ...