Deck Pharmaceuticals Announces 2020 Results, Its Valuation under Lisence-in Model Doubles 14 Times in Three Years

In February 2019, the Series B financing raised a total of US$120 million, with a valuation of US$370 million
.

In July 2020, Series C financing received US$97 million led by Fidelity Entity, with a valuation of US$726 million
.

On November 20, 2020, the Hong Kong Stock Exchange was listed, with a market value of approximately HK$12 billion on that day
.

From a valuation of US$109 million in 2017 to a market value of HK$12 billion (US$1.
544 billion) on the market, Deqi Pharmaceutical’s valuation has doubled by 14 times in three years
.

On the day of listing, Deqi Pharmaceuticals Hong Kong stocks opened at HK$19.
6 per share, an increase of 8.
41% from the issue price (HK$18.
08).
As of the close of the day, it was reported at HK$18.
28 per share, an increase of 1.
11%
.
But the next day the stock price opened lower and went lower, falling below the issue price
.
As of today's (March 26) closing, Deqi Pharmaceuticals closed at HK$16.
8 per share, down 7.
08% from the issue price, with a total market value of HK$11.
28 billion
.

Let’s look at Zai Lab, which was listed on the Hong Kong Stock Exchange two months earlier than Deqi, with an issue price of HK$562 per share.
The share price opened 9.
16% higher on the first day of listing (September 28), and at the close of the day, Zai Lab was listed.
It rose 8.
54% on the first day to close at 610 Hong Kong dollars per share
.
Since then, Zai Lab's stock price has shown an upward trend.
Today (March 26), Zai Lab reported at HK$1,053 per share, an increase of 87.
37% from the issue price, with a total market value of HK$92.
16 billion
.

From the perspective of the Hong Kong stock market, Deqi Pharmaceutical's share price performance was slightly weak, and the market value failed to continue to rise, which did not meet the expectations of investors for Zai Lab to target it
.

Reference material: Insight database-"Have a number of pioneering drugs, Deqi Pharmaceuticals, been "wrongly killed" by the capital market? 》