🔥【Hot New Stock】"AI Pharma Three Little Dragons" led by Jitai Technology, making a joint debut with Impact Therapeutics

The Hong Kong stock market's IPO scene in May kicked off with a bang🥳. Two innovative biopharmaceutical new shares launched their offerings simultaneously. $METIS TECHBIO-P(07666.HK) aims to reshape the paradigm of drug delivery with AI, while $IMPACT THERAP-B(07630.HK) is deeply entrenched in the frontier of precision anti-cancer therapies. Each has its own highlights, and Hotspot Analyst has broken them down one by one. Let's take a look together! 👇

🧬 $METIS TECHBIO-P(07666.HK): The Nano Courier for Drugs

Jitai Technology is an AI-driven biotech company focused on nanomaterial innovation. It has independently developed the world's first AI-driven nanoscale drug delivery platform, NanoForge, which can shorten the R&D cycle for small molecule drug formulations from 1-2 years to 3 months, and possesses precise targeted delivery capabilities for key tissues such as the liver, lungs, muscles, and immune cells. As of the latest practicable date, the company has over 10 pipeline products, with the fastest already advanced to the pre-NDA stage, and has established partnerships with more than 30 global pharmaceutical and biotech companies.

Jitai Technology's revenue for 2023-2025 was RMB 9.338 million, RMB 1.482 million, and RMB 105 million, respectively. Revenue in 2025 surged to over 70 times that of the previous year, with gross profit simultaneously increasing to RMB 103 million. Annual losses for the same period narrowed from RMB 582 million to RMB 392 million, while R&D expenses remained stable at RMB 270-290 million, with continuous investment in innovative pipelines.

Jitai Technology's current offering features a star-studded cornerstone investor lineup, including global asset management giant BlackRock, UBS AM Singapore, and the National Innovation Investment Fund, among others.

Jitai Technology expects net proceeds from the global offering to be approximately HK$1,976.9 million (assuming the over-allotment option is not exercised, based on an offer price of HK$10.50). The company intends to allocate about 50.0% of the net proceeds to support the research, development, and advancement of core technologies for its AI infrastructure and AI-driven nanomaterial platform; about 20.0% for ongoing and planned clinical trials in its AI-developed product pipeline; about 10.0% for the development of its animal health and anti-aging solutions; about 10.0% allocated to support its growth strategy of building a global AI-driven nanomaterial ecosystem; and about 10.0% for working capital and other general corporate purposes.

🎯 $IMPACT THERAP-B(07630.HK): The Precision Sniper for Cancer Cells

Impact Therapeutics is a commercial-stage biotech company focused on synthetic lethality-based precision anti-cancer therapies. Its core product, Senaparib, was approved in January 2025 for first-line maintenance therapy in the "all-comers" population of ovarian cancer in China and was included in the National Reimbursement Drug List in 2026, setting a new benchmark for PARP1/2 inhibitors in this field.

Impact Therapeutics' revenue for 2024-2025 was RMB 33.547 million and RMB 38.251 million, respectively, representing a 14% year-on-year increase. Although annual losses were RMB 255 million and RMB 296 million, respectively, gross margin remained above 95%.

Impact Therapeutics expects net proceeds from the global offering to be approximately HK$781 million (assuming the over-allotment option is not exercised, based on an offer price of HK$20.75). Of this, about 51% will be used to fund the ongoing and planned clinical development, regulatory approval, and commercialization of its core product, Senaparib; about 31% will be used to fund the ongoing clinical development of its key products, IMP1734 and IMP9064; about 8% will be used to fund the R&D activities of its other pipeline assets, IMP1707, IMP7068, IMP22, IMP25, IMP08, IMP13, and IMP10; about 8% will be used to fund the development of its R&D platform and expand its drug pipeline; and about 2% will be used for working capital and other general corporate purposes.

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