On August 16th, Hang Seng Indexes Company announced the latest quarterly review results, and Shengno Pharmaceutical (02257) was removed from the Hang Seng Composite Small-cap Index. The change will be implemented after the close of trading on Friday, September 6, 2024 and will take effect on Monday, September 9, 2024.
It was learned from the Wisdom Finance app that on August 16th, Hang Seng Indexes Company announced the latest quarterly review results, and Shengno Pharmaceutical (02257) was removed from the Hang Seng Composite Small-cap Index. The change will take effect after the close of trading on Friday, September 6, 2024 and will take effect on Monday, September 9, 2024. Zhongjin Research Report pointed out that Shengno Pharmaceutical may be removed from the Hong Kong stock market due to a decrease in market capitalization, insufficient liquidity, or violation of relevant regulations. It is worth noting that the company's stock price continued to hit its new low for the year on August 15th, and has fallen 89% year-to-date.
It is reported that the company announced in April of this year that it had received a written response to the type C meeting requested by the US FDA regarding its core variety STP705, and has started the required pre-clinical studies based on the guidance of the FDA. The financial report shows that as of the end of 2023, Shengno Pharmaceuticals had only about $23.88 million in cash. As of now, Shengno Pharmaceuticals has not yet commercialized any products.