On the 10th and 11th of this month, the Taiwan Stock Exchange held its listing review committee meetings, where Bonraybio's initial application for an Innovative Board stock listing and BRIM Biotechnology's initial stock listing application were both approved. The Taiwan Stock Exchange noted that both cases still need to be submitted to the board of directors for final approval. As of the 10th, Bonraybio's stock was priced around NT$135 in the Emerging Stock Market, while BRIM Biotechnology's stock was priced around NT$49 on the 11th.
Bonraybio: Bonraybio specializes in the development, manufacturing, and sales of comprehensive solutions for male infertility. The company applied for a listing with a capital of NT$171 million and a market value of approximately NT$1.845 billion. Cheng-Teng Hsu serves as Chairman and General Manager, with First Securities acting as the underwriter for the listing.
Bonraybio's market is predominantly export-driven, with exports accounting for 97% of its sales and domestic sales only 3%. The board consists of nine members, holding a combined shareholding of 44.66%. The company's pre-tax profits were NT$1.713 million in 2022, NT$25.75 million in 2023, and NT$30.76 million in the first half of 2024. The earnings per share (EPS) after tax were NT$0.11 in 2022, NT$1.51 in 2023, and NT$1.56 in the first half of 2024.
BRIM Biotechnology: BRIM Biotechnology focuses on the development of new ophthalmic drugs. After the Phase III clinical trial of their dry eye treatment BRM421 failed to meet its endpoint at the end of last year, the company plans to adjust the trial’s endpoint and aims to apply for a new Phase III clinical trial early next year. In addition to their dry eye treatment, BRIM acquired two ophthalmic drug candidates from Metagone Biotech and Theratocular Biotek for NT$400 million earlier this year. The company applied for a listing with a capital of NT$1.157 billion and a market value of around NT$5.68 billion. Andrew Lin serves as Chairman, while Dr. Wen Chyi Shyu is the General Manager. MasterLink Securities is acting as the underwriter for the listing.
BRIM Biotechnology’s market is entirely export-driven, with 100% of its sales coming from abroad. The board consists of nine members, holding a combined shareholding of 13.23%. The company has faced losses in recent years, with pre-tax losses of NT$105 million in 2021, NT$274 million in 2022, NT$688 million in 2023, and NT$132 million in the first half of 2024. The earnings per share (EPS) after tax were -NT$1.78 in 2021, -NT$3.85 in 2022, -NT$6.84 in 2023, and -NT$1.14 in the first half of 2024.
Resource (mandarin): 生技醫療產業增兩尖兵 邦睿生技、全福生技上市案申請雙獲通過
