CStone Pharmaceuticals announces share placement to bolster pipeline

CStone Pharmaceuticals announced it has entered into a placing agreement to issue 100,000,000 new shares at a price of HK$4.72 per share. The placing aims to raise approximately HK$472.00 million in gross proceeds, with estimated net proceeds of HK$467.28 million. The placing price represents a discount of 8.88% to the closing price on July 8, 2025. Morgan Stanley Asia Limited is acting as the sole overall coordinator and placing agent for the transaction. The company intends to allocate 90% of the net proceeds to further research and development, including its "Pipeline 2.0" assets such as CS2009 and CS5001. The remaining funds will be used for general corporate purposes. Completion of the placing is subject to customary conditions, including listing approval from the Stock Exchange.