CF Pharmtech (02652) saw its stock price surge more than 5% by midday, trading at HKD 16.94, up 5.15%, with a turnover of HKD 85.31 million.

The company announced that it had completed the placement of 21.7477 million new H shares on August 6, 2026, at a placing price of HKD 13.82 per share, raising net proceeds of approximately HKD 295 million.

According to the company's previous disclosure, about 70% of the net proceeds will be allocated to clinical and preclinical development of the group's innovative drug candidates. Approximately 15% will be used for CMC research, clinical studies, device development, and registration and regulatory filing expenses for the group's complex inhalation products worldwide, including CF048, CF059/CF060, CF066 EDS, CF067, CF068, and CF011/CF088.