Singapore biotech Mirxes misses 2025 results deadline as auditors probe vendor payments
[SINGAPORE] Local biotech company Mirxes has missed its mandatory deadline to publish full-year 2025 results after auditors flagged concerns over a “selected list of prepayments” to service providers and vendors.
The Singapore-founded cancer diagnostics company had until Mar 31, 2026 to publish its results under Hong Kong Stock Exchange (HKEX) listing rules, but failed to do so.
As a result, trading in Mirxes shares was suspended from 9 am on Apr 1, and will remain so until its results are published.
In a bourse filing, the company said auditors require more time to scrutinise the prepayments in question and that the company is still gathering the necessary information.
The board has chosen not to release unaudited management accounts in the interim as it may not accurately reflect the financial performance and position of the company and could “create unnecessary confusion” among shareholders.
Mirxes did not disclose the nature and scale of the prepayments under review.
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The company added that despite the delay in the publication of its annual results, it is still business as usual for operations.
Founded in 2014 as an Agency for Science, Technology and Research spin-off, Mirxes specialises in micro ribonucleic acid (miRNA) technology, developing blood-based diagnostic tests for the early detection of cancer and other diseases. Its flagship product, GastroClear, is the world’s first molecular blood test approved for early detection of gastric cancer in high-risk populations.
Mirxes listed on the main board of the HKEX on May 23, 2025, becoming the first biotech firm from South-east Asia to do so. The IPO raised gross proceeds of approximately HK$1.09 billion, making it the largest medical device listing on the HKEX under Chapter 18A of the Listing Rules since 2022.
Shares closed at HK$30 on its first day of trading, up 28.76 per cent from its offer price of HK$23.30, giving the company a market capitalisation of HK$8.29 billion.
The company reported net losses of US$92.33 million in 2024 and has around 350 employees across six countries.
Shares of Mirxes last traded at HK$12.58 on the HKEX on Mar 29, 2026, before the announcement.
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