One disastrous debut has not stopped other biotech companies from attempting a Hong Kong listing. But those planning to go public under the city's new rules should be aware that the regime itself may be putting pressure on their stock price. Hong Kong's stock exchange operator will no doubt be relieved that its pipeline of biotech IPOs remains intact, despite the blow-up in Ascletis Pharma. The first company to float under new rules welcoming pre-profit issuers from the fast-growing sector is down 40% from its IPO price.
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