Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cloudbreak-pharma-inc-efd81cde-e7ed-4783-8912-641081d062f7" target="_blank" data-smartkarma-citation="entities:49065:1" rel="noopener">Cloudbreak Pharma (2592 HK)</a>, a clinical-stage eye-disease drug developer, was listed on the HKEx on the 3rd July 2025 at HK$10.10/share, and promptly fell 39% on debut.</li>
<li>The downward trend continued. Shares were suspended by the SFC on the 10th September 2026, with a last trading price of HK$1.19/share, down 88.2% from IPO. </li>
<li>The SFC said it has "serious concerns" that Cloudbreak's 2025 IPO "may have been rigged to create an artificial impression of demand" for its shares.</li>
</ul>



Cloudbreak Pharma (2592 HK), a clinical-stage eye-disease drug developer, was listed on the HKEx on the 3rd July 2025 at HK$10.10/share, and promptly fell 39% on debut.
The downward trend continued. Shares were suspended by the SFC on the 10th September 2026, with a last trading price of HK$1.19/share, down 88.2% from IPO. 
The SFC said it has "serious concerns" that Cloudbreak's 2025 IPO "may have been rigged to create an artificial impression of demand" for its shares.


Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>In Depth: China’s Diagnostic Firms Bet on a New Front in Global Health (Johannesburg, South Africa) — For years, funding for global health aid has flowed into this complicated, vibrant metropolis to address public health crises including HIV and AIDS and tuberculosis (TB).</li><li>Analysis: China Adopts Market-Driven Solution to Stale Loan Rate Benchmark For nearly seven years, China’s commercial lenders have relied on a single anchor to price their loans — the loan prime rate (LPR).</li><li>Now, the country’s banking system is testing the waters with a dynamic new benchmark.</li></ul>

In Depth: China’s Diagnostic Firms Bet on a New Front in Global Health (Johannesburg, South Africa) — For years, funding for global health aid has flowed into this complicated, vibrant metropolis to address public health crises including HIV and AIDS and tuberculosis (TB).Analysis: China Adopts Market-Driven Solution to Stale Loan Rate Benchmark For nearly seven years, China’s commercial lenders have relied on a single anchor to price their loans — the loan prime rate (LPR).Now, the country’s banking system is testing the waters with a dynamic new benchmark.

CX Daily: China’s Diagnostic Firms Bet on a New Front in Global Health 

<ul>
<li>You probably have downside to ¥3,720 if EQT's bid lapses. Downside may be limited to ¥3,760 if <a href="https://www.smartkarma.com/entities/kakaku-com-inc" target="_blank" data-smartkarma-citation="entities:7408:1" rel="noopener">Kakaku.com (2371 JP)</a> convinces Bain to bid up to negotiate with KDDI.</li>
<li>
<a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a> extends an olive branch to Elliott, (temporarily?) avoiding a proxy fight.</li>
<li>If one wants SBI to raise the price for<a href="https://www.smartkarma.com/entities/base-inc" target="_blank" data-smartkarma-citation="entities:28353:1" rel="noopener"> (4477 JP)</a>, it behooves the market to trade at ¥345 again. Get long, or get longer.</li>
</ul>


You probably have downside to ¥3,720 if EQT's bid lapses. Downside may be limited to ¥3,760 if Kakaku.com (2371 JP) convinces Bain to bid up to negotiate with KDDI.

Northern Star Resources (NST AU) extends an olive branch to Elliott, (temporarily?) avoiding a proxy fight.
If one wants SBI to raise the price for (4477 JP), it behooves the market to trade at ¥345 again. Get long, or get longer.


Last Week In Event SPACE: Kakaku, Northern Star Resources, BASE Inc, Reliance Worldwide, Cloudbreak

United States

Cloudbreak Pharma is a clinical-stage ophthalmology biotechnology company dedicated to developing novel and differentiated treatments for eye diseases, leveraging its proprietary Multi-Kinase Inhibitor (MKI) platform. Its pipeline includes lead candidates such as CBT-001 for pterygium and CBT-004 for pinguecula, both in late-stage clinical trials. The company was founded in 2015 and is headquartered in Irvine, California, USA, with operations also in Mainland China and Hong Kong.

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Cloudbreak Pharma (2592 HK)