HANXBIO-B (03378) has announced a proposed placement of up to 13.4 million warrants as of September 13, 2026, according to a company filing. Each warrant carries the right to subscribe for one share at an initial subscription price of HK$36 per share, subject to potential adjustments.

The warrants are set to be placed at a price of HK$0.36 each. Assuming the maximum number of warrants is successfully placed at this offering price, the total gross proceeds and net proceeds from the warrant issuance are estimated to be approximately HK$4.824 million and HK$3.859 million, respectively.

The net proceeds from the warrant issuance are expected to be allocated for general working capital purposes, which include covering employee salaries, rental expenses, and other office-related costs. In the event that all subscription rights attached to the maximum number of warrants are fully exercised at the initial subscription price, the company anticipates raising additional gross proceeds of up to approximately HK$482.4 million.

The combined net proceeds from the placement, along with the allotment and issuance of subscription shares, are projected to reach up to HK$486 million. These funds are intended to support the group's general working capital requirements, including clinical research for new products, advancing the development of next-generation ADC (antibody-drug conjugate) and IO (immuno-oncology) therapies, new molecule/antibody discovery initiatives, and other general corporate purposes.