Jinwu Financial News | China Antibody (03681) announced that it has issued a total of 56.834,700 shares, accounting for about 5.21% of the expanded share capital. The placement price is HK$1.29 per share, a discount of about 18.35% from the closing price of HK$1.58 on the previous trading day.
The total amount of proceeds from the placement was HK$73,316,800, representing a net amount of approximately HK$73.1818 million.
The company plans to use 35% of the net proceeds for the marketing and commercialization of Susciralimab (Susciralimab), including the establishment of sales and marketing teams, post-marketing medical activities, and marketing and academic promotion activities; 20% for commercial production of Susciralimab (Susciralimab) and post-marketing production site transfer; 15% for the BLA listing and extension research work of Susciralimab (Susciralimab); 15% for Susciralimab (Susciralimab) clinical trials for mild cognitive impairment trials; and 15% clinical studies using SM17 to treat atopic dermatitis. The net proceeds from the subscription are expected to be used before the end of 2025.