Alphamab Oncology details unutilized proceeds, share scheme in annual report update

Alphamab Oncology issued a supplemental announcement to its 2024 Annual Report, providing further details on treasury shares, the utilization of proceeds from its Global Offering and Top-up Placing, and the Post-IPO Share Award Scheme. As of December 31, 2023, the company had HK$175.9 million (54.1%) of its Global Offering proceeds unutilized for KN046 development and commercialization, with HK$140.7 million allocated to clinical trials and registration filings, and HK$35.2 million for launch and commercialization. An additional HK$149.1 million (45.9%) remained for KN026, totaling HK$325.0 million in unutilized Global Offering proceeds.

For the Top-up Placing, HK$299.8 million (89.0%) remained unutilized, with HK$270.6 million designated for the launch of JSKN003 clinical trials and HK$29.2 million for JSKN016 clinical development. Furthermore, HK$37.0 million (11.0%) was unutilized for general corporate purposes, bringing the total unutilized Top-up Placing proceeds to HK$336.8 million.

The company also clarified that 510,000 Award Shares granted during the reporting period under the Post-IPO Restricted Share Award Scheme were managed by a trustee from a trust fund, meaning no new shares will be issued, thus exempting the company from certain disclosure requirements under Listing Rules.