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Alphamab Oncology Closes $234 Million Hong Kong IPO; Climbs 35% in First Session

publication date: Dec 12, 2019

Alphamab Oncology raised $234 million in a Hong Kong IPO and traded 35% higher from its offering price to a market cap of $1.2 billion. The company has a PD-L1 candidate that could be approved in China next year and two bispecifics -- KN046 (PD-L1/CTLA4) and KN026 (HER2) -- in Phase II tests. It has eight biologics in development. About half of the proceeds will be used to support clinical development of KN046 for various solid tumors. Alphamab Oncology was spun out from Alphamab last year. More details....

Stock Symbol: (HK: 9966)

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