CANbridge Pharmaceuticals (1228) investor relations material

Executive summary

• Achieved key milestones in rare disease drug pipeline, including expanded commercialization and regulatory approvals for Hunterase®, Livmarli®, and Gaurunning® in China and other regions.

• Entered strategic cooperation with Baheal Medical, securing RMB50 million engagement fee and HK$100 million equity investment, strengthening commercial execution and capital base.

• Streamlined operations, reduced workforce to 45 employees, and reprioritized pipeline to focus on high-potential assets amid challenging biotech funding environment.

Financial highlights

• Revenue declined 50.3% year-over-year to RMB22.2 million, mainly due to planned cessation of Nerlynx® sales in Taiwan; excluding Nerlynx®, revenue fell 6.9%.

• Gross profit margin improved to 69.3% from 65.7% year-over-year.

• Other income and gains surged to RMB104.1 million, driven by a RMB101.0 million non-recurring gain from US lease termination.

• R&D expenses dropped 89.6% to RMB18.0 million, reflecting NDA approval of Gaurunning® and reduced development activities.

• Selling, distribution, and administrative expenses fell sharply due to cost containment and focus on rare disease products.

• Reported profit of RMB59.2 million (vs. RMB247.3 million loss prior year), but profit is non-recurring; adjusted loss narrowed 82.7% to RMB37.4 million.

• Cash and bank balances at period end were RMB2.0 million, down from RMB10.5 million at year-end 2024.

Outlook and guidance

• Optimistic for H2 2025, expecting improved execution and results from pipeline streamlining, capital efficiency, and Baheal Medical partnership.

• Plans to accelerate commercialization of Gaurunning® and enhance profitability of Hunterase® and Livmarli®.