A dearth of innovative drug developers seeking public listings on China’s Nasdaq-like STAR Market has made investors scratch their heads, as the bourse, hailed as the country’s only stock market open to pre-revenue companies, marked its third anniversary of opening on 13 June.
Biotechs Stage No-Show As China’s STAR Market Marks Third Anniversary
To date this year, not a single innovative drug-focused biotech has filed for an initial public offering on the Science and Technology Innovation Board of the Shanghai Stock Exchange. Apart from a suspected tightening of listing rules, IPO disclosures and the plummeting share prices of public companies seem to be looming large over bioventures aiming considering floating on the bourse.
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