Gate News message, April 14 — Transcenta Holding Limited announced on April 15 that it entered into a placement agreement on April 14 (after trading hours) to place 5.085 million H shares (Hong Kong-listed shares) at HK$57.03 per share, representing an 18% discount to the closing price. The net proceeds are expected to reach approximately HK$282.15 million.
The company plans to allocate approximately 57% of the funds to R&D, including clinical development of its core product Tinengotinib for advanced breast cancer, hepatocellular carcinoma, castration-resistant prostate cancer, and TT-00973; about 33% to production and commercialization of Tinengotinib in China, including building a commercial team and marketing activities; and about 10% to working capital and general corporate purposes.
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