Hanx Biopharmaceuticals (Wuhan) (3378) H1 2026 earnings summary

Executive summary

• H1 2026 net loss was RMB33.241m versus RMB33.654m YoY; cash and cash equivalents were RMB500.287m at June 30.

• Pipeline comprised three clinical-stage candidates—HX009, HX111 and HX044—and pre-IND candidate HX116; HX009 remained the lead asset, with pivotal plans subject to data and regulatory alignment.

Financial highlights

• Other income and gains rose to RMB27.614m from RMB5.300m, including a RMB21.160m fair-value gain on contingent consideration.

• R&D costs declined 16.6% YoY to RMB26.102m; investment is expected to increase in H2 2026.

• Administrative expenses excluding listing expenses rose 17.1% to RMB27.912m, primarily due to higher labor costs; no H1 listing expenses were incurred.

• Other expenses were RMB17.493m, including RMB17.417m in net foreign-exchange losses; finance costs fell to RMB1.039m from RMB5.534m after interest on redeemable liabilities ceased accruing following the IPO.

• Loss attributable to owners was RMB36.883m versus RMB36.440m; basic and diluted loss per share improved to RMB0.27 from RMB0.31.

Outlook and guidance

• HX009 melanoma Phase Ib/II completion was re-estimated for early 2027 due to slower enrollment and added sample-size requirements; a pivotal study may start after H1 2027 if data support it.

• For relapsed/refractory EBV+ DLBCL, CDE agreement is being sought for a pivotal Phase II trial, potentially starting in H1 2027; planned BLA timing is 2029 if successful.

• HX111 Phase I enrollment is targeted for completion by year-end 2026; an IND application for its PD-1 combination trial is planned in 2026.

• HX301’s Phase IIa glioblastoma study remained ongoing, with a continuation decision planned by 2026; HX116 remained in IND-enabling work and U.S. FDA pre-IND discussions.

• IPO proceeds are expected to be fully utilized by 2030; timing may change with market conditions and business needs.