Haixi Pharmaceuticals has listed on the Hong Kong Stock Exchange (HKEX) at HKD 86.40 per share reaching a HKD 8.7 billion market capitalisation after achieving 3,165 times retail oversubscription and 36.3% intraday trading peak. The commercial-stage pharma raised HKD 994 million through the initial public offering (IPO), with HKD 940 million net proceeds earmarked to fund innovative pipeline development including multi-kinase inhibitor C019199 and oral retinal disease candidate HXP056.

Haixi's commercial portfolio includes generic drugs for digestive, cardiovascular, endocrine, neurological and inflammatory diseases, generating RMB 466.7 million revenue in 2024 with RMB 136.1 million net profit. The innovative pipeline features CSF-1R/DDR1/VEGFR2 inhibitor C019199 entering Phase III trials in osteosarcoma and breast cancer in 2025, alongside oral VEGFR antagonist HXP056 completing a Phase I study for wet age-related macular degeneration (wAMD) and diabetic macular oedema by year-end. The company plans an investigational new drug (IND) application in the US for C019199, following Chinese clinical milestones.

According to PharmCube's MedAlpha® database, Haixi received five strategic investments prior to its IPO. Click here to request a free trial for MedAlpha®.