Ascentage Pharma (6855) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 reached $44.5M (RMB302.2 million), up 29.3% year-over-year, driven by product sales of $41.6M, notably Lisaftoclax and Olverembatinib.

• Net loss widened to RMB817.0 million from RMB590.8 million in H1 2025, reflecting higher R&D and selling expenses.

• Cash and bank balances stood at $279.4M (RMB1,895.6 million) as of June 30, 2026, with runway through 2027.

• Leadership team strengthened with new Chief Business and Commercial Officers to support global expansion.

• Removal of the "B" marker from the HKEX stock short name signaled compliance with higher market capitalization and revenue thresholds.

Financial highlights

• Total revenue increased to $44.5M (RMB302.2 million) from $32.6M (RMB233.7 million) in H1 2025, a 29.3% rise.

• Product sales accounted for $41.6M, with gross profit rising to RMB290.5 million.

• R&D expenses rose to $102.8M (RMB697.5 million), up 32% year-over-year.

• Selling and distribution expenses increased 64.3% to $33.4M (RMB226.4 million).

• Cash and bank balances: $279.4M (RMB1,895.6 million) as of June 30, 2026.

Outlook and guidance

• Cash runway reaffirmed through end of 2027, supporting ongoing registrational studies.

• Enrollment for key trials (GLORA-4, POLARIS-1, POLARIS-2) expected to complete by late 2026 or early 2027.

• Multiple NDA filings anticipated in the second half of 2027.

• Focus on completing global registrational trials for Olverembatinib and Lisaftoclax to pursue FDA and international approvals.

• Continued commercial expansion in China and preparation for Lisaftoclax commercialization in the U.S.