Pharmaceutical company Pharmalife (Nanjing) Technology Co., Ltd., abbreviated as “Pharmalife”, has experienced an explosive surge in its stock price by over 30 times within less than three months of its listing on the Hong Kong Stock Exchange. Despite not having any commercialized products yet, the company reported zero revenue in the first half of the year with a loss of 123 million yuan.
On September 15th, Pharmalife’s closing price reached 415 Hong Kong dollars per share, marking a staggering increase of 115.58%. Its market value soared to 164.713 billion Hong Kong dollars, surpassing leading biotech companies like Kangfang Bio (09926.HK) and Sendabio (01801.HK).
In the past three trading days, from September 10th to September 12th, Pharmalife’s stock price surged by 27.57%, 20.78%, and 77.09%, respectively.
On September 10th, Pharmalife announced the approval for a phase II clinical trial of Tinengotinib, a selective focal adenosine kinase inhibitor in global registrational clinical stage, for the treatment of recurrent or metastatic breast cancer with hormone receptor-positive (HR+) and human epidermal growth factor receptor 2-negative or low expression (HER2-) in combination with Fluvisoxin.
Pharmalife went public on the Hong Kong stock market on June 23rd, with an IPO offering price of only 13.15 Hong Kong dollars per share. As of September 15th, the closing price reached 415 Hong Kong dollars per share, indicating a cumulative price increase of approximately 30.6 times.
Currently, Pharmalife does not have any commercialized products in its portfolio.
According to the financial report, in the first half of the year, Pharmalife did not generate any operating revenue. The net profit was a loss of 123 million yuan, narrower than the loss of 160 million yuan in the same period last year. The research and development expenses amounted to 98.43 million yuan, and the management expenses were 27.47 million yuan. As of the end of June, the company held cash and cash equivalents of 449 million yuan, with total equity amounting to 582 million yuan.
Industry experts have previously informed financial media that the research and development of innovative drugs are fraught with uncertainties, even in the later stages of clinical trials, due to risks such as clinical trial failures, approval delays, and market competition. Data shows that the global success rate of innovative drugs from phase I clinical trials to final marketing is less than 10%, and Pharmalife’s current pipeline has not entered the marketing phase, indicating significant uncertainties in the future.
Established in 2016, Pharmalife is a biopharmaceutical company oriented towards clinical needs and in the registrational clinical stage. The company focuses on discovering and developing innovative therapies for tumors, inflammation, and cardiovascular metabolic diseases. As of June 30, 2025, the company’s main pipeline includes six clinical stage candidate products and several preclinical stage candidates.
The meteoric rise in Pharmalife’s stock price has attracted attention online.
Financial blogger “Chuniu Talks” posted, “This innovative drug company, Pharmalife, in the Hong Kong stock market surged sixfold in a week due to a slight breakthrough announcement in one of the company’s drug pipelines. However, the distance to clinical success is still significantly far, yet the stock price continues to soar.”
Financial blogger “Stock Market Blade” stated, “The core product, Tinengotinib’s breast cancer phase II trial approval, is the reason behind the company’s rapid surge. But with only phase II clinical trial approval, this frenzy seems outrageous.”
“A-shares hype artificial intelligence, Hong Kong stocks hype innovative drugs, showcasing the typical characteristics of a bull market. Funds are all invested in sectors that retail investors do not understand and in the ‘vastness of the universe’—who cares if it will all end up being worthless in the future! Let the imagination run wild before reality sets in.”