Sirnaomics to List on Hong Kong Stock Exchange Next Thursday, Advancing RNAi Therapeutics Across China and U.S. Markets

　　【Pharmaceutical Network Medical Stock Market】RNA interference technology (RNAi) can silence the production of specific proteins at the gene expression level. RNAi inhibitors have been widely used in the research and development of therapeutic drugs for viral diseases, genetic disorders, cancer, and metabolic diseases, showing broad market prospects.
 

In recent years, basic research on RNAi has been in full swing, and the market size has been expanding year by year. Data shows that the global market size of RNAi therapies for all indications has increased from US$12 million in 2018 to US$362 million in 2020, with a compound annual growth rate of 449.2%. It is expected to reach US$25 billion by 2030. By 2030, the market size of RNAi therapies applied to common diseases and oncology will account for 54% of the total market size.
 

In the Chinese market, the research and development of RNAi therapies is also very active. The industry expects that the domestic market size will increase from approximately 4 million US dollars in 2022 to over 300 million US dollars in 2025, with an annual compound growth rate exceeding 300%. It is estimated to reach about 3 billion US dollars by 2030.
 

2021 is hailed as the golden year for RNA drug development. Due to the huge and rapidly growing demand for RNAi therapies in the Chinese market, capital is also accelerating its layout in this field. Recent reports indicate that next Thursday (October 30th), Sirnaomics (Sirnaomics, Inc.), a biopharmaceutical company specializing in RNA therapies across the Chinese and U.S. markets, will be listed in Hong Kong.
 

On December 20, 2021, Sirnaomics (Sirnaomics, Inc.) is set to commence its Hong Kong public offering, closing at 12:00 PM on December 23, 2021. The company plans to issue 7.54 million shares, of which 754,000 shares are for public offering and 6.786 million shares for international offering. The issue price per share is between HKD 65.9-72.7, with each lot comprising 50 shares, expecting to be listed on December 30.
 

Sirnaomics is an RNA therapeutics biopharmaceutical company that holds a significant market position in both China and the United States, with research and development centers established in both countries. Its candidate products are in preclinical and clinical stages, focusing on exploring and developing innovative drugs for the treatment of indications with unmet medical needs and substantial market opportunities.
 

From the product pipeline perspective, the company currently has more than ten drug candidates applicable to a series of therapeutic indications for rare diseases and those with significant market potential, covering areas such as oncology, fibrosis, medical aesthetics, antiviral, cardiovascular diseases, and metabolic disorders. Among them, the core product STP705 has demonstrated efficacy and safety in Phase I/II clinical trials for non-melanoma skin cancer. Further development will include Phase IIb clinical trials for squamous cell carcinoma in situ (isSCC), Phase II clinical trials for treating basal cell carcinoma (BCC), Phase II clinical trials for treating keloids, and Phase I/II clinical trials for treating hypertrophic scars (HTS).
 

Currently, the company has not yet generated any revenue from product sales. Financial data shows that in 2019, 2020, and the first nine months of 2021, the company recorded total net losses of $17.127 million, $46.428 million, and $50.001 million, respectively. The majority of the net losses were due to research and development expenses, fair value changes of financial liabilities accounted for at fair value through profit or loss, and administrative expenses.
 

The net proceeds from the offering are expected to be approximately HK$420 million (assuming the over-allotment option is not exercised and calculated based on the mid-range of the offer price). According to the prospectus, the Company intends to use the net proceeds from the share offering as follows: approximately 57.9% will be used to fund the development and commercialization of STP705, approximately 15.6% will be allocated to the development of STP707, approximately 15.4% will be used to fund the Company’s GalNAc program products such as STP122G, STP133G, and STP144G, as well as other preclinical stage candidates; approximately 7.3% will be used for the research and development of other preclinical candidates, and approximately 3.8% will be used for general corporate and working capital purposes.
 

According to the prospectus, Sirnaomics has completed five rounds of financing since its establishment, introducing a total capital of over 270 million US dollars. The company's latest round of financing occurred in July this year, with a post-investment valuation of 657 million US dollars.