CF PharmTech has listed on the Hong Kong Stock Exchange (HKSE) at HKD 14.75 per share achieving HKD 6.08 billion (USD 781 million) market capitalisation following 6697.80 times retail oversubscription and 227.46% grey market premium. The inhalation therapy specialist holds six product approvals from China and US regulators, including budesonide suspension CF017 representing 94.5% of 2024 revenue through participation in China's volume-based procurement (VBP).

The company reported transition to profitability with RMB 210.9 million net income in 2024 following RMB 494 million loss in 2022. Proceeds of HKD 525.4 million will fund development of dry powder and soft mist inhaler candidates in China, US and Europe alongside novel platforms targeting pulmonary arterial hypertension (PAH) and idiopathic pulmonary fibrosis (IPF).

PharmCube's NextBiopharm® database shows that CF PharmTech's pipeline consists of an RNAi therapy and two small-molecule drugs. Click here to request a free trial for NextBiopharm®.