RemeGen (9995) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2025, rose to RMB1,092.0 million, up 47.6% year-over-year, driven by strong sales of telitacicept and disitamab vedotin.

• Net loss narrowed to RMB449.6 million, a significant improvement from RMB780.5 million in the prior year.

• Major pipeline advancements included new approvals, positive clinical trial results, and licensing deals for telitacicept, disitamab vedotin, and RC28-E.

• Strategic licensing agreements with Vor Biopharma and Santen China secured substantial upfront and milestone payments.

• Maintained a robust cash and cash equivalents balance, increasing to RMB1,271.0 million as of June 30, 2025.

Financial highlights

• Revenue increased to RMB1,092.0 million from RMB739.7 million year-over-year, with Q2 2025 revenue at RMB573 million.

• Gross profit rose to RMB921.8 million from RMB570.4 million year-over-year.

• Research and development expenses decreased to RMB647.2 million from RMB806.2 million year-over-year.

• Net loss narrowed to RMB449.6 million from RMB780.5 million year-over-year, with Q2 2025 net loss at RMB195 million.

• Cash and cash equivalents increased to RMB1,271.0 million from RMB759.5 million at year-end 2024.

Outlook and guidance

• Focus on commercializing telitacicept and disitamab vedotin and expanding market presence in China.

• Continued acceleration of clinical trials and regulatory filings for pipeline products domestically and internationally.

• Anticipates China BLA filings for Telitacicept in IgAN and pSS, and RC28 for DME in 2025, with multiple China approvals expected in 2026.

• Ongoing collaborations with Vor Bio, Pfizer/Seagen, and Santen China to support global development.