On the first day of trading, HIGHTIDE-B made its debut and opened at a high of 3.65% in the morning session.
HIGHTIDE-B made its debut on the market with an initial listing price of HKD 11.5 per share, issuing 24.194 million shares and raising approximately HKD 194.1 million. On the first day of trading, the stock opened 3.65% higher at HKD 11.92, with a turnover of HKD 25.9612 million. HIGHTIDE-B focuses on the discovery, development, and commercialization of treatments for metabolic and digestive system diseases. Its core product, HTD1801, has demonstrated good safety and efficacy in multiple clinical trials and is expected to become a "one treatment for multiple diseases" product.
Zhitong App has learned that HIGHTIDE-B (02511) has made its debut on the market. According to the announcement, the company issued 24.194 million shares at a price of HKD 11.5 per share, with a minimum trading unit of 500 shares. The net proceeds from the offering amounted to approximately HKD 194.1 million. As of the time of writing, the stock has risen by 3.65% to HKD 11.92, with a trading volume of HKD 25.9612 million.
It is reported that HIGHTIDE-B focuses on the discovery, development, and commercialization of multifunctional and multi-targeted therapies for metabolic and digestive system diseases. The company has independently developed a product pipeline consisting of one core product and four other candidate products. The core product, HTD1801 (Berberine Ursodeoxycholate), is a new molecular entity that acts as an intestinal and hepatic anti-inflammatory and metabolic regulator, targeting multiple pathways that are crucial to the human body's metabolic processes, including those related to metabolic and digestive system diseases.
HTD1801 is a novel salt composed of two active ingredients, berberine and ursodeoxycholic acid, and has demonstrated good safety and efficacy in multiple clinical trials, including Phase IIa studies on metabolic abnormality-related non-alcoholic steatohepatitis in the United States, Phase II studies on type 2 diabetes in China, Phase II studies on primary sclerosing cholangitis in the United States and Canada, Phase II studies on primary biliary cholangitis in the United States, and Phase Ib/IIa studies on hypercholesterolemia in Australia. The company believes that the strong safety and efficacy profile of HTD1801 supports its potential as a "one drug, multiple diseases" product for the treatment of selected metabolic and digestive system diseases where current treatment options are suboptimal or not approved.