【New Stock IPO】Legendary Biotech Reportedly Plans Hong Kong Listing This Year, Raising at Least 2.3 Billion Yuan

SocialAnxietyStaker · 2026-03-12T12:48:08+00:00

# Kingene Biotech, a joint venture of Kingsley Biotech, plans to list in Hong Kong this year, with expected fundraising of approximately $300-400 million. Legendary Biotech focuses on novel cell therapies for tumors and other indications. Despite larger losses in 2023, losses are expected to narrow significantly in 2025, with substantially increased revenue.

SocialAnxietyStaker

2026-03-12 12:48:08

Abstract generation in progress

Kingsoft Biotech (01548)
Associate company Legend Biotech (US: LEGN) plans to list in Hong Kong this year, raising between $300 million and $400 million (approximately HKD 2.34 billion to HKD 3.12 billion), according to IFR reports.

Legend Biotech is currently listed on NASDAQ as American Depositary Shares. According to its official website, the company was founded in 2014 and specializes in discovering and developing novel cell therapies for tumors and other indications.

▲ [New IPO] Legend Biotech reportedly plans to list in Hong Kong this year, raising at least HKD 2.3 billion

2025 Adjusted Losses Significantly Narrowed

As of the fourth quarter ending December last year, the company reported a net loss of $30.9 million, compared to a profit of $26.4 million in the same period in 2024; basic loss per share was $0.08. Adjusted profit was $2.5 million, whereas in 2024 it recorded an adjusted loss of $59 million. Revenue increased 64.24% year-over-year to $306 million; R&D expenses decreased 2.97% to $101 million.

For the full year 2025, the company expects a loss of $296 million, compared to a full-year loss of $177 million in 2024; revenue is projected to grow 64.02% year-over-year to $1.028 billion. Adjusted losses are expected to be $33.1 million, a significant improvement from the $188 million adjusted loss in 2024.

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