TRANSTHERA-B (02617) dropped more than 10% again. As of the time of writing, the stock was down 9.02%, trading at HKD 84.7, with a turnover of HKD 117 million. The company previously announced its intention to place 21 million new shares at a price of HKD 92.85 per share. This represents a 17.98% discount to the H-share closing price of HKD 113.2 on January 13. The net proceeds from the placement are estimated to be HKD 190 million. Approximately 60% of the proceeds will be used to fund the ongoing clinical trial in China for its core product, Tinengotinib, as a monotherapy for cholangiocarcinoma (CCA), as well as research and development for other indications of the core product. About 30% will be allocated to the R&D of other products, including TT-00973, TT-01488, and other molecules. Roughly 10% is designated for working capital and general corporate purposes.