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Ascentage Pharma Closes IPO of 7.33 Million American Depositary Shares
Press Release: Ascentage Pharma Announces Closing of U.S. Initial Public Offering
Fangzheng Securities: Maintain "Strong Buy" rating for ASCENTAGE-B. The company goes public in the USA, further opening up financing channels in the USA.
Fangzheng Securities released a Research Report stating that on January 24, ASCENTAGE-B (06855) successfully listed on Nasdaq, raising approximately 0.126 billion USD in the US stock market, further opening up financing channels in the USA, gaining new funding support, providing more resources and certainty for subsequent product development, and is expected to accelerate the global commercialization progress of Olverembatinib and the R&D progress of other pipelines. The company's revenue for FY24-26 is expected to be 0.908/0.596/2.63 billion yuan, with year-on-year growth of 303.62%, -34.45%, and 341.68%, respectively, corresponding to FY24.
Founder Securities: Maintains a "strong recommendation" rating for ASCENTAGE-B (06855) as the company goes public in the USA, further opening up financing channels in the USA.
On January 24th, ASCENTAGE-B (06855) successfully listed on Nasdaq, raising approximately 0.126 billion USD in this round of fundraising. This further opens up financing channels in the USA, providing new financial support and offering more resources and certainty for the subsequent product development.
Ascentage Pharma IPO Opens Flat