According to the Wisdom Finance APP, Sinuo Medicine-B (02257) fell more than 6%. As of the publication, it fell by 6.16%, to HKD 6.55, with a turnover of HKD 7.266 million.
On the news front, on June 3, Sinuo Medicine announced that the Chief Medical Officer Francois Lebel and Chief Financial Officer Ye Yongji resigned. Previously, on May 17, the company's Chief Strategy Officer Dr. Dai Xiaochang also resigned for personal reasons. The financial report shows that as of the end of 2023, Sinuo Medicine had only about $23.88 million in cash. So far, Sinuo Medicine has not yet had any products commercialized.
In addition, in March of this year, the two major shareholders of the company were successively forced to close out their positions. On March 7, Sinuo Medicine announced that the 1.56 million shares (approximately 1.78%) held by Executive Director and Chairman Lu Yang had been forced to sell, because the margin replenishment request was not met. Then on March 18, Executive Director Dai Xiaochang was forced to sell 99,500 shares due to the failure to pay the margin for the pledged shares.
