Suzhou Genhouse Bio Co., Ltd. Re-Files with HKEX, Turning Profitable with Half-Year Revenue Surge of RMB 557 Million

NewTimeSpace News: Suzhou Genhouse Bio Co., Ltd. re-filed its listing application with the Hong Kong Stock Exchange (HKEX) on August 7, 2026 for the second time, with Huatai International acting as the sole sponsor.

Founded in 2014, the Company is a biopharmaceutical company that develops a pipeline of self-developed innovative drug candidates centered on the RAS signaling pathway and synthetic lethality mechanisms. The pipeline comprises eight drug candidates, of which the core product GH21, an allosteric SHP2 inhibitor, is currently in Phase II clinical trials, covering monotherapy for solid tumors and combination therapies with Garsorasib and Osimertinib.

The Company has built a presence in both the RAS signaling pathway and synthetic lethality fields. According to China Insights Consultancy, approximately 19.0% of global solid tumor incidence in 2025 was associated with RAS mutations. The global market size of synthetic lethality drugs was USD 4.8 billion in 2025 and is projected to increase to USD 17.4 billion by 2033.

In terms of financials, for the five months ended May 31, 2026, the Company's revenue increased by RMB 557 million compared with the same period last year, achieving a turnaround from loss to profit with a profit of approximately RMB 355 million. The significant revenue growth was mainly attributable to the out-licensing arrangement with Gilead in respect of GH31, under which a non-refundable upfront payment of USD 80 million (pre-tax) was received in February 2026. For the five months ended May 31, 2025, the Company recorded a loss of approximately RMB 50.8 million. For the full year of 2025, the Company recorded a loss of approximately RMB 144 million, narrowing from approximately RMB 152 million in 2024.

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