InnoCare Pharma (9969) Q3 2025 earnings summary

Executive summary

• Operating revenue for January–September 2025 reached RMB1.12 billion, up 59.85% year-over-year, driven by core product orelabrutinib and an exclusive license agreement with Prolium Bioscience Inc.

• Gross profit margin improved to 88.8%, a 2.8 percentage point increase from the prior year.

• Net loss narrowed to RMB72 million, a 74.78% reduction compared to the same period last year.

• Orelabrutinib sales rose 45.77% year-over-year to RMB1.01 billion, with new indications and expanded reimbursement coverage.

• Cash and related accounts stood at RMB7.76 billion as of 30 September 2025.

Financial highlights

• Operating revenue for Q3 2025 was RMB383.9 million, up 38.09% year-over-year.

• Net loss attributable to shareholders for January–September 2025 was RMB64.4 million.

• Basic and diluted EPS for the period were both -0.04 RMB.

• R&D expenditure totaled RMB676 million, 60.61% of operating revenue, down 27.53 percentage points year-over-year.

• Net cash flows from operating activities improved to -RMB84.3 million from -RMB333.1 million a year earlier.

Outlook and guidance

• Sufficient cash reserves will support accelerated development of pipeline projects and expansion of treatment options globally.