Research Express | Aidi Pharmaceuticals Receives 44 Institutions Including Guohai Securities; Refinancing Scale Increased to 1.276 Billion Yuan, Focusing on Global Development of HIV Innovative Drugs

In March, AiDi Pharmaceuticals (688488) held an analyst meeting, welcoming 44 institutional investors including Guohai Securities, Shenwan Pharmaceutical, Kaiyuan Securities, Huafu Securities, China Merchants Fund, Gao Yi Asset Management, and others. The company’s Secretary of the Board and CFO Liu Yan, along with Dr. Yun Xinming, head of the Pharmacology and Translational Medicine Department, engaged in in-depth discussions with institutions on key issues such as the refinancing plan changes, progress in core pipeline research, and sales strategy adjustments.

Basic Information on Investor Relations Activities

Refinancing Plan Adjustment: Raising Funds to 1.276 Billion Yuan, Focusing on Global Core Pipeline Deployment

Background of the Plan Change

Liu Yan explained that the company initially planned to raise 185 million yuan through a simplified issuance. However, considering the company’s actual situation, development plans, and the fact that relevant securities service institutions no longer meet the criteria for simplified procedures, the company decided to terminate this plan and proceed with a regular refinancing process, adjusting the fundraising scale to no more than 1.276 billion yuan.

Key Changes in the New Plan

The fundraising scale has been significantly increased, mainly focusing on core strategic deployment:

• Deepening the global layout of core pipelines: Building on the ongoing acquisition of a 22.2324% minority stake in Nanjing Pharmaceutical, the company will add a “Global Clinical Development of New HIV Integrase Inhibitor (INSTI)” project to strengthen its global market competitiveness.
• Matching strategic upgrade funding needs: The funds will be used for the above global clinical development project, minority stake acquisitions, and working capital to support rapid business growth.
• Management’s confidence display: One of the company’s actual controllers, Mr. Fu Heliang, plans to subscribe personally to stocks worth 30-50 million yuan, with a lock-up period of 36 months, demonstrating commitment to the company’s long-term development.

Risk Warning

The company highlights three major risks for this refinancing:

1. Approval risk: The process requires approval from shareholders’ meetings, the Shanghai Stock Exchange review, and CSRC registration, with uncertain approval timelines.
2. Clinical development risk: International multi-center clinical trials may face changes or termination due to FDA review policies and cross-border regulatory differences.
3. Implementation risk: The actual amount raised may be below expectations, and the issuance price is based on 80% of the average price of the 20 trading days before the first day of issuance; if not completed within 12 months, procedures must be re-performed.

Progress of Core Pipelines: Accelerated Overseas Development of New HIV Drugs Shows Results

Overseas Development Plan for New HIV Integrase Inhibitor

Dr. Yun Xinming stated that the company’s new HIV integrase inhibitor (ACC017 tablets) overseas development focuses on the U.S. market. There are approximately 1.2 million HIV-infected individuals in the U.S., with integrase inhibitors being the dominant class, generating $19.7 billion in sales in 2025, with significantly higher pricing than in China, indicating clear commercial potential. The company is preparing to communicate with the FDA and partners on clinical trial plans, aiming to advance NDA submission through multi-center international clinical studies and achieve substantial overseas expansion.

Competitive Advantages of ACC017

Existing second-generation integrase inhibitors have clinical shortcomings such as weight gain and metabolic abnormalities. Based on current research data, ACC017 is expected to achieve lower systemic exposure, smaller therapeutic doses, faster viral load reduction, and lower drug-drug interaction risks, with better safety potential, making it a preferred candidate for global clinical treatment in the future.

Clinical Development Strategy for ACC085

ACC085 is an independently developed novel capsid protein inhibitor targeting HIV pre-exposure prophylaxis (PrEP), working by blocking viral capsid assembly. Due to the absence of similar products on the domestic market and lack of targeted guidelines, the company will learn from international experience, following a “patient-centered, clinical value-oriented” approach. After IND approval, clinical trials will be quickly initiated to verify preventive efficacy and long-term safety. This drug is expected to form a “prevention-treatment” synergy with existing pipelines, enhancing China’s HIV comprehensive prevention and control capabilities.

Overseas Patent Layout

For the ACC085/ACC077 projects, the company has completed a proactive global patent layout, submitting a PCT international patent application in November 2025, and is progressing into national phases in the U.S., Europe, Japan, and other major markets. The company will continuously monitor patent developments, conduct infringement analysis, and design strategic patents to strengthen technological barriers for international cooperation and commercialization. However, patent approval timelines are subject to each country’s review policies and may have uncertainties.

Sales Trends of Innovative HIV Drugs

Since Q4 2025, the company has comprehensively adjusted its sales structure and strategy:

1. Expanding the sales team to over 200 members to support business growth;
2. Optimizing incentive mechanisms to motivate grassroots sales;
3. Restructuring the marketing department into three segments—academic promotion, medical projects, and training—to drive patient conversion.
   Since early 2026, these adjustments have shown significant results, laying a foundation for continued growth in HIV innovative drug sales.

During this research, institutional investors focused on the company’s refinancing strategy adjustments and the global development of core pipelines. Management provided detailed responses, emphasizing a focus on innovative drug R&D and accelerating global deployment.

Disclaimer: Market risks exist; investment should be cautious. This article is automatically generated by an AI model based on third-party data and does not represent Sina Finance’s views. All information herein is for reference only and does not constitute personal investment advice. Please refer to official announcements for accuracy. For questions, contact biz@staff.sina.com.cn.

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