On June 26, Micot Pharmaceutical-B declined 6.28% in regular trading, trading at HK$38.8/share, with turnover of HK$561,600. The stock pulled back from near the HK$40 level reached during the prior two sessions following its IPO.

On the news front, the stock listed on the Hong Kong Stock Exchange on June 24 at an IPO price of HK$18.20, surging 102.75% on its debut to close at HK$36.9. The Hong Kong public offering was oversubscribed 1,181.46 times with a one-lot winning rate of only 3%, and the stock continued climbing to approximately HK$39.46 by June 25. After the rapid post-IPO rally that more than doubled the stock from its offer price, profit-taking pressure has emerged. As an 18A-listed biotech firm still in the R&D investment phase, its core product MT1013 remains in Phase III clinical trials with commercialization not expected until early 2028, offering no near-term revenue contribution.

Micot Pharmaceutical is a platform biotechnology company focused on accelerating innovation in next-generation bispecific/multispecific peptide drugs, with pipelines spanning renal metabolic diseases and cardiovascular conditions.

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