RemeGen (9995) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 rose to RMB 1,092 million, with Q2 2025 revenue at RMB 573 million, driven by strong sales of telitacicept and disitamab vedotin.

• Net loss narrowed to RMB 449.6 million for H1 2025, with Q2 2025 net loss at RMB 195 million, reflecting improved financial performance.

• Maintained robust cash and cash equivalents, reaching RMB 1,480 million at Q2 2025 end.

• Significant clinical and regulatory progress, including new approvals and major licensing agreements.

Financial highlights

• Gross profit increased to RMB 921.8 million year-over-year, with improved gross profit margin and commercialization efficiency.

• Revenue increased sequentially from RMB 508 million in Q1 2025 to RMB 573 million in Q2 2025.

• Net loss narrowed significantly to RMB 195 million in Q2 2025 from RMB 254 million in Q1 2025.

• Cash and cash equivalents stood at RMB 1,480 million at the end of Q2 2025.

• Basic and diluted loss per share improved to RMB 0.83 from RMB 1.45 year-over-year.

Outlook and guidance

• Anticipates China BLA filings for Telitacicept in IgAN and pSS, and RC28 for DME in 2025.

• Expects multiple China approvals in 2026 for Telitacicept (IgAN, pSS), RC48 (1st line UC), and RC28 (DME).

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

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