Biocytogen Pharmaceuticals Adjusts Fundraising Project, Extends Timeline

MT Newswires Live

09/17

Biocytogen Pharmaceuticals Beijing (SHA:688796, HKG:2315) raised the total investment for its drug early-stage research and development service platform construction project to 461.6 million yuan from 453.6 million yuan, according to a Thursday filing with the Shanghai bourse.

The internal investment structure will shift, cutting construction engineering payment by 254.1 million yuan while adding 135 million yuan for decoration, 119.1 million yuan for equipment, and 8 million yuan for site leasing.

The project completion date is extended to June 30, 2027, from Dec. 31, 2026.

Shares of the pharmaceutical company rose 6% in recent trade on the Hong Kong bourse.

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