According to disclosures from the Hong Kong Stock Exchange on August 25th, Jingfang Pharmaceuticals Technology (Shanghai) Co., Ltd. (Jingfang Pharmaceuticals) has successfully passed the HKEx listing hearing, with CITIC Securities serving as its exclusive sponsor.

According to the prospectus, Jingfang Pharmaceuticals is a biopharmaceutical company focused on developing novel therapeutic solutions in oncology (covering different treatment lines across various solid tumors) as well as autoimmune and inflammatory diseases. As of August 18, 2025, the company has established a product pipeline comprising eight candidate drugs, with five currently in clinical development stages, including two core products GFH925 and GFH375.

GFH925 (fulzerasib, trade name Dabert®) is a proprietary drug discovered by the company that has received commercial approval in China for the treatment of advanced non-small cell lung cancer (NSCLC). It represents China's first and the world's third approved selective Kirsten rat sarcoma (KRAS) G12C inhibitor.

GFH375 is an orally bioavailable small molecule inhibitor targeting KRAS G12D. The company has initiated the Phase II portion of a Phase I/II clinical trial in China for patients with advanced solid tumors harboring KRAS G12D mutations. KRAS G12D represents the most common oncogenic KRAS mutation, for which no approved treatment options are currently available. This mutation is found across multiple cancer types, including approximately 35% of pancreatic cancers, 12% of colorectal cancers, and 4% of non-small cell lung cancers.

The company holds a total of 72 granted patents and 117 patent applications (including 8 PCT applications). For GFH925-related intellectual property, the company holds 2, 1, 1, and 8 granted patents in China, the United States, the European Union, and other overseas jurisdictions respectively; and maintains 5, 4, 3, 1, and 21 GFH925-related patent applications in China, the United States, the European Union, PCT, and other overseas jurisdictions respectively.

During 2023 and 2024, and for the four months ended April 30, 2025, the company's revenue primarily came from three customers with multiple performance obligations, including: (1) licensing of intellectual property; (2) research and development services; and (3) drug supply provided in 2024. The company generally grants customers credit terms of 30 to 60 days from the first day of the month following invoice receipt. Neither of the two customers are suppliers to the company.

Financially, for the years 2023 and 2024, and the four months ended April 30, 2025, Jingfang Pharmaceuticals recorded revenues of approximately RMB 73.734 million, RMB 105 million, and RMB 82.149 million respectively; with losses for the year/period of approximately RMB 508 million, RMB 678 million, and RMB 66.624 million respectively.