New Stock News | Taili Biology Resubmits Application to Hong Kong Stock Exchange, Loss of Approximately 117 Million Yuan in the First Half of the Year

According to the Hong Kong Stock Exchange disclosure on August 21, Tyligand Bioscience Co., Ltd. (referred to as Tyligand Bioscience) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC SEC as its exclusive sponsor. The company previously submitted a listing application to the Hong Kong Stock Exchange on January 29. Company Overview According to the prospectus, Tyligand Bioscience is a clinical-stage biopharmaceutical company established in 2017, focused on the discovery and development of cancer therapies. As of the last practical date, Tyligand Bioscience's drug portfolio includes four candidate drugs, including a core product TSN1611, which is in phase 2 clinical trials, as well as another clinical candidate drug TSN222 and two preclinical candidate drugs TSNA1789 and TSNA3339. The company's core product TSN1611 is an oral Kirsten rat sarcoma viral oncogene homolog (KRAS) G12D inhibitor. TSN1611 is currently undergoing phase 2 clinical trials in the United States and China. Tyligand Bioscience has communicated with the FDA regarding the clinical development plan for TSN1611 (including the requirements for launching a registration phase 3 international multi-center clinical trial (MRCT) for TSN1611 as a monotherapy for second and later-line treatment of non-small cell lung cancer (NSCLC)), and has received feedback from the FDA. The company plans to communicate with the National Medical Products Administration in China to seek approval for participation in the multi-regional clinical trial. Tyligand Bioscience's core product TSN1611 aims to inhibit the activity (GTP-bound state) and inactive (GDP-bound state) of the KRAS G12D protein simultaneously to treat KRAS G12D-driven malignancies, including non-small cell lung cancer (NSCLC), pancreatic ductal adenocarcinoma (PDAC), and colorectal cancer (CRC). Tyligand Bioscience is developing TSN1611 as a monotherapy for second-line and subsequent NSCLC, while also developing its combination therapies for first-line PDAC, first-line CRC, and other late-stage solid tumors. In the prospectus, Tyligand Bioscience mentions that it cannot guarantee the successful development and commercialization of its core product or any pipeline products. Tyligand Bioscience has established three core self-developed technology platforms: the Tyligand Targeted Therapy Linker-Payload Platform (T3 LP Platform), the DATIA Platform, and the Dual Payload Platform, which together form the competitive advantage of the company in small molecule and ADC development. These platforms collectively build a strategic technology continuum, addressing traditional non-druggable targets such as KRAS, enhancing therapeutic efficacy through DATIA payload technology, and pioneering combination treatment mechanisms using the dual payload strategy. This integrated platform framework enables the company to maintain effective competitiveness in the rapidly evolving ADC field while providing flexible space for expansion into emerging areas of precision cancer therapy. Financial Information Revenue For the fiscal year 2024, 2025, and for the six months ending June 30, 2026, the company's revenues were approximately RMB 7.856 million, RMB 26.32 million, and RMB 4.058 million, respectively. Total Loss and Comprehensive Loss for the Year/Period For the fiscal year 2024, 2025, and for the six months ending June 30, 2026, the company's total loss and comprehensive loss for the year/period were approximately RMB 70.461 million, RMB 184 million, and RMB 117 million, respectively. Gross Profit For the fiscal year 2024, 2025, and for the six months ending June 30, 2026, the company's gross profit was approximately RMB 7.121 million, RMB 22.626 million, and RMB 139, respectively. Industry Overview The global oncology drug market has expanded in the past and is expected to continue to grow. The global oncology drug market size is projected to grow from USD 150.3 billion in 2020 to USD 278.2 billion in 2025, representing a compound annual growth rate (CAGR) of 13.1%. It is expected to reach USD 683 billion by 2035, with a CAGR of 9.4% from 2025 to 2035. Immunotherapy is the main growth engine, with its market share expected to rise from 23.4% in 2020 to 45.7% by 2035, while antibody-based therapies (including ADCs) are expected to account for 56.5% of biopharmaceutical revenues by 2035. The oncology drug market in China has also grown rapidly in recent years. The market size is projected to increase from RMB 197.5 billion in 2020 to RMB 279.1 billion in 2025, at a CAGR of 7.2%, and is expected to reach RMB 980 billion by 2035, with a CAGR of 13.4% from 2025 to 2035. The market share of immuno-oncology drugs is expected to surge from 7.5% in 2020 to 43.5% by 2035, while the share of chemotherapy drugs will decline from 63.3% to below 10%, highlighting the rapid transformation of China's cancer treatment landscape. Board of Directors Information As of the last practical date, the board of directors consisted of five directors, including two executive directors and three non-executive directors. After the edits, (a) Dr. Jiang Fei and Mr. Guo Hua will no longer serve as non-executive directors; (b) (i) Ms. Liu Yuwen will be appointed as a non-executive director, and (ii) Mr. Wang Gang, Ms. Ling ZENG, and Dr. Cai Xuejun will be appointed as independent non-executive directors; and (c) the board will consist of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors. Shareholding Structure As of the last practical date, Tyligand Holdings (holding 23.66% of the company's issued share capital) is held by Dr. Zhang, Dr. Zhong, and Dr. ZY. Zhang, who own 48.75%, 41.25%, and 10.00% of the equity, respectively. Dr. Zhang directly holds 0.35% of the company's issued share capital. Therefore, Dr. Zhang, Dr. Zhong, Dr. ZY. Zhang, and Tyligand Holdings are regarded as a single largest shareholder group of Tyligand Bioscience, collectively holding 24.01% of the company's issued share capital. Intermediary Team Exclusive Sponsor: CITIC SEC (Hong Kong) Limited Legal Advisor to the Exclusive Sponsor: Sullivan & Cromwell LLP (Hong Kong) Limited Liability Partnership, and Commerce & Finance Law Offices Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Company Legal Advisors: K&L Gates LLP, Zhong Lun Law Firm, JunHe Law Office (Shanghai), Junhe Law Office, P.C., Harney Westwood & Riegels Reporting Accountant and Auditor: Ernst & Young Compliance Advisor: SOMERLEY CAPITAL Limited