CStone Pharmaceuticals-B (02616) rose more than 4% in Hong Kong trading. At the time of writing, the stock was up 4.44%, trading at HK$10.34, with a turnover of HK$30.19 million. The movement follows an announcement from the company regarding a share placement agreement. On April 14, 2026, the company entered into a placement agreement with placing agents. Under the terms, CStone has conditionally agreed to place a total of 118 million shares at HK$8.97 per share to no fewer than six placees. Assuming the full subscription of all 118 million placement shares, the gross proceeds from the placement are expected to be approximately HK$1.058 billion. After deducting commissions and related expenses, the net proceeds are estimated to be HK$1.053 billion. The company plans to allocate 90% of the net proceeds to fund further research and development of assets within its "Pipeline 2.0." Key assets highlighted include CS2009, a tri-specific molecule targeting PD-1, VEGFA, and CTLA-4, currently in Phase II development with potential best-in-class or first-in-class status as a next-generation immuno-oncology backbone; CS5001, a potential best-in-class ROR1 ADC; and other assets in preclinical or IND preparation stages. The remaining net proceeds will be used for general corporate purposes as appropriate.