According to its latest draft prospectus lodged with the HKEx in April, Mirxes recorded losses of US$70.4 million for its FY2023 ended Dec 31, 2023. The company incurred costs in R&D, typical of such deep tech firms, and also booked US$20.2 million in non-cash items, where preference shares accounted for US$11.1 million of losses, while depreciation for property, plant and equipment accounted for another US$7.98 million.
Singapore biotech firm Mirxes has refiled its draft prospectus for a Hong Kong IPO, with a target to raise at least US$100 million ($135.28 million) for a valuation of some US$600 million. This news comes a year after Mirxes first filed to list on the Stock Exchange of Hong Kong (HKEx) last July.
If so, this will make Mirxes, which focuses on cancer diagnostics, one of if not the largest listing by a biotech company from Singapore. The company intends to complete the listing within the next six months.
