BRIEF: Qyuns Therapeutics secures CSRC approval for full H-share circulation
Biopharmaceutical company Qyuns Therapeutics Co. Ltd. (2509.HK) announced on Tuesday that the China Securities Regulatory Commission (CSRC) has approved its plan to convert 17.32 million of its domestic shares into H-shares that can be publicly traded in Hong Kong. The conversion involved company stock held by three shareholders.
Founded in 2015, Qyuns is a late-stage clinical biopharmaceutical company specializing in biologic therapies for autoimmune and allergic diseases. Its product pipeline includes two core products, QX002N and QX005N, along with seven other drug candidates, four of which are in clinical stages. The company has yet to commercialize any products.
Qyuns was listed in Hong Kong last March, raising approximately HK$238 million ($30.6 million) in total proceeds. Since the listing, its stock has lost about two-thirds of its value.
In the first half of last year, the company reported revenue of 44.91 million yuan ($6.1 million), primarily from licensing agreements, compared to no revenue during the same period the previous year. During the period, it incurred a net loss of 180 million yuan, narrowing by 31% from the same period the previous year.
By Lee Shih Ta
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