Suzhou's CStone Pharma Schedules $304 Million Hong Kong IPO for Next Week

CStone Pharma, a Suzhou oncology company, plans to raise $304 million in its Hong Kong IPO at a valuation of $1.5 billion. Even though CStone is just two and one-half years-old, it has 14 oncology programs underway, including nine in clinical or IND stages. CStone plans to file a China NDA on its lead candidate, a PD-L1 immunotherapy, later this year. CStone has reduced the IPO price 23% from the original range, though its valuation remains a 50% increase over the last venture funding. The IPO will be priced next week and begin trading on February 26, one week later. More details.... Share this with colleagues: // //