Dino Pharma Surges to 287 HKD Post-IPO, Falls to 192 HKD as Funds Exit After June 23 Stock Connect Inclusion

According to Zhitong Caijing, Dino Pharma-B (06872) surged from its 75.7 HKD IPO price to a peak of 287 HKD in June 2026 before gaining Hong Kong Stock Connect inclusion on June 23. The stock subsequently retreated to 192 HKD as institutional investors exited, forming a typical inverted-V pattern.

Institutional fund flows show major shareholders initiated net outflows starting June 17, with daily outflows reaching 2.483 million HKD following the stock's confirmed inclusion. The company's core candidate drug, rifaflomicin, targets Helicobacter pylori—the first novel molecular entity developed for this indication since the bacterium's discovery in 1982. With an expected NDA approval by year-end 2026 and backing from the AMR Action Fund (established by 12 major pharma companies), the stock faces a near-term catalyst gap before year-end approval.