Duality Biotherapeutics Inc (HK:9606), a Shanghai-based biotech firm specializing in antibody-drug conjugates (ADCs), saw its share price more than triple in its Hong Kong trading debut on Tuesday.
The stock opened at HK$182.20, significantly above the IPO price of HK$94.60, and reached as high as HK$222 on Tuesday.
It was trading at HK$206.80 as of 03:13 GMT.
Duality raised nearly $213 million by selling 17.3 million shares at the bottom of the HK$94.60 to HK$103.2 price range.
The company, established in 2019, has developed a pipeline of internally discovered ADCs, with half currently in clinical trials.
Duality has partnered with BioNTech SE (NASDAQ:BNTX) on two core ADCs, for endometrial cancer, which is expected to file for accelerated approval by 2025.
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