This article only represents the author's own views.
It seems a major breakthrough for JW (Cayman) Therapeutics Co. Ltd. (2126.HK) just wasn’t enough for one of its prominent early backers. That’s the story of the moment for this Chinese cancer drug developer, whose shares have been on a roller coaster ride over the last two weeks on a major regulatory advance, followed by the departure of a major institutional shareholder.
Temasek, Singapore’s state-owned investment firm, sold all of its 6% stake in Hong Kong-listed JW Therapeutics for HK$22.20 per share in a block trade, IFR reported on Sept. 14. The transaction was disclosed in a filing to the Hong Kong Stock Exchange two days later.
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