HK Recently Listed Stocks Watch | LONGBIO-B (01779.HK): Lock-up of cornerstone investors' 7.0904 million H shares expires on December 4; EGM on October 30 to consider amendments to the Articles of Association

NewTimeSpace News: As at 15:10 on October 12, 2026, LONGBIO-B (01779.HK) traded at HKD 91.40 intraday, down 6.73%.

On the news front, according to the company's previously disclosed Allotment Results Announcement, cornerstone investors hold a total of 7.0904 million H shares, and the last day of the relevant lock-up undertaking is December 4, 2026; as the following day and the day after are Saturday and Sunday respectively, the shares will become transferable from December 7, 2026 (Monday). The cornerstone investors include OrbiMed Genesis, The Biotech Growth Trust, TruMed, Shanghai Gaoyi Asset Management, Shanghai Ruijun Asset Management, Rui Yuan, Fullgoal Fund Management, Value Partners and Yuanfeng Yuanjing Growth Fund, among others; of these, Shanghai Gaoyi Asset Management, Shanghai Ruijun Asset Management and Yuanfeng Yuanjing Growth Fund subscribed through swap arrangements with Huatai Capital Investment and China Galaxy International Investment respectively.

In terms of the latest developments, the company issued an announcement on October 9, 2026 proposing to amend its Articles of Association. The amendments include: reflecting the changes in the company's registered share capital and shareholding structure following the full exercise of the over-allotment option, and adjusting the registered capital, total number of shares, number of H shares and other figures in the relevant articles; and amending Article 69 to make the articles better aligned with the applicable domestic laws and regulations.

The over-allotment option has been fully exercised, with a total of 2.12895 million H shares issued, increasing the company's total number of issued shares to 76,322,100 (of which 75,059,218 are H shares); the initial offer shares were listed on June 5, 2026 and the over-allotment shares were listed on July 6, 2026. The above amendments will only take effect upon approval by the company's extraordinary general meeting by way of special resolution; until then, the existing Articles of Association will remain in force.

The company will hold an extraordinary general meeting at 4:00 p.m. on Friday, October 30, 2026 at Room 302, Building 88, No. 887 Zuchongzhi Road, Zhangjiang Hi-Tech Park, Pudong New Area, Shanghai, to consider the two special resolutions mentioned above. The company will suspend the registration of share transfers from October 27 to October 30, 2026, and holders of H shares must complete the transfer of shares by 4:30 p.m. on October 26 in order to attend and vote at the meeting.

According to public information, LONGBIO-B (01779.HK) was listed on the Main Board of The Stock Exchange of Hong Kong Limited on June 5, 2026 at an offer price of HKD 96.06, offering a total of 14.19315 million H shares under the global offering, including 1.41935 million shares under the Hong Kong public offering, which was 4,762.58 times subscribed, and 12.7738 million shares under the international offering, which was 10.94 times subscribed; gross proceeds amounted to approximately HKD 1.363 billion and net proceeds to approximately HKD 1.255 billion. The company's H shares have been included in the eligible securities lists of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect since September 7, 2026.

In terms of financial performance, the company announced its first interim results after listing on August 21, 2026: for the first half of 2026, R&D expenses were RMB 108 million (RMB, the same below), compared with RMB 67.291 million a year earlier; administrative expenses were RMB 24.622 million, compared with RMB 11.349 million a year earlier; the loss for the period was RMB 135 million, compared with a loss of RMB 94 million a year earlier. As at June 30, 2026, the company had cash and cash equivalents of RMB 904 million and time deposits of RMB 304 million. The company has no products approved for marketing and has not generated any revenue from product sales; its losses for the years 2024 and 2025 were RMB 137 million and RMB 176 million respectively.

In terms of business progress, according to the interim report, the core product LP-003 is a self-developed anti-IgE antibody; its Phase III clinical trial in China for the treatment of seasonal allergic rhinitis has met the primary endpoint, and its biologics licence application was accepted by the National Medical Products Administration (NMPA) in August 2026; its clinical trial application for the treatment of peanut allergy was approved by the U.S. FDA in July 2026, and data from its head-to-head Phase II clinical trial for the treatment of chronic spontaneous urticaria showed a complete response rate superior to that of omalizumab. Another major product, LP-005, is a bifunctional complement fusion protein targeting C3b and C5; its Phase II extension-stage clinical trial for the treatment of paroxysmal nocturnal haemoglobinuria (PNH), as well as its Phase II clinical trials for the treatment of complement-mediated kidney diseases and periodontitis, have all been initiated.

In terms of institutional views, in its initiation of coverage report dated September 18, 2026, titled "LONGBIO-B (01779.HK): An innovative biotech with dual allergy and complement platforms, with a superior anti-IgE novel drug moving towards commercialisation", GUOSHENG FINANCE gave the company a "Buy" rating, noting that the company, leveraging its high-affinity antibody discovery platform and bifunctional antibody development platform, has built a differentiated pipeline covering monoclonal antibodies, bispecific antibodies and fusion proteins, with its core management team led by Dr. Sun Naichao, the principal inventor of omalizumab; LP-003 has demonstrated superiority over omalizumab in head-to-head clinical trials, and its biologics licence application for the seasonal allergic rhinitis indication has been accepted by the NMPA, positioning it to potentially become the world's second and China's first anti-IgE antibody drug to be approved for marketing.