CStone Pharmaceuticals raises HK$467m for drug development

CStone Pharmaceuticals raised approximately HK$467.28 million through placing 100 million shares at HK$4.72 each, representing 6.83% of enlarged share capital.

Combined with previous unutilized proceeds, the company now has HK$674.4 million available. About 73% will fund R&D on drugs CS2009 and CS5001 through 2027, with 17% for preclinical assets and 10% for general corporate purposes.