TENNOR THERAP-B (06872) commenced trading today. According to the announcement, the shares were priced at HKD 75.7 each, with a total of 8.856 million shares issued. Each board lot consists of 50 shares, and the net proceeds from the offering amount to approximately HKD 558 million. At the time of writing, the stock surged 98.15%, trading at HKD 150 with a turnover of HKD 179 million.

Public information indicates that TENNOR THERAP-B focuses on the research and development of innovative drugs for bacterial infections and diseases related to bacterial metabolism. The company has established a pipeline comprising seven drug candidates, targeting indications with limited or no available treatment options.

The core product, TNP-2198 (Lifotinezole), is the first and only new molecular entity candidate globally targeting Helicobacter pylori infection since its discovery in 1982. The company submitted a New Drug Application (NDA) to the National Medical Products Administration (NMPA) in August 2025, and the drug is expected to receive approval by the end of 2026.

Another key product, TNP-2092 injection (Lifoquinone), targets implant-related bacterial infections. The prospectus states that this product is the world's first new molecular entity candidate with the potential to be effective against biofilm infections at clinically achievable doses. Currently, the company has submitted Phase III multi-domain clinical trial protocols for this product to both the NMPA and the U.S. FDA.