QYUNS-B (02509) surged over 13% again, bringing its year-to-date gains to nearly 300%. As of press time, the stock was up 9.26% to HK$27.6, with turnover of HK$45.4 million.

On the news front, QYUNS-B's interim results showed that first-half revenue reached RMB 206 million, representing a 359.69% year-on-year increase, while losses narrowed by 83.11% to RMB 30.93 million. The substantial revenue growth was primarily driven by upfront payments from licensing deals, milestone payments, clinical development service fees, and CDMO revenue.

Additionally, QYUNS-B announced the placement of 5 million new shares to TruMed fund at HK$20 per share, raising net proceeds of approximately HK$99 million. The company plans to allocate about 60% of the proceeds to repay existing interest-bearing bank borrowings, approximately 30% for new pipeline development including QX027N, QX031N, and QX035N, and about 10% for working capital and other corporate purposes.

Leveraging over a decade of expertise in the autoimmune field, QYUNS-B has developed four potential first-in-class or best-in-class long-acting dual antibody reserves, with three expected to submit IND applications this year. For commercialization, the company can utilize the sales channels of its second-largest shareholder, Huadong Medicine, to accelerate domestic market penetration. Internationally, QYUNS-B is rapidly expanding its autoimmune dual antibody footprint globally through business development transactions.

Notably, in the recent placement, QYUNS-B secured significant investment from TruMed Health Innovation Fund LP. TruMed has previously served as a cornerstone investor in prominent Hong Kong biotech IPOs including Kelun-Biotech, Ennova Bioscience, Vitalab Biotech, and Pretty Garden, earning recognition as a bellwether for healthcare IPO investments in Hong Kong.