RemeGen (9995) Q4 2024 earnings summary

Executive summary

• Achieved strong revenue growth of 59% year-over-year to RMB1,710.2 million, driven by robust sales of telitacicept and disitamab vedotin.

• Expanded commercialization with both core products now listed in over 1,000 hospitals and included in the National Reimbursement Drug List.

• Advanced clinical pipeline with multiple late-stage trials and regulatory milestones for autoimmune, oncology, and ophthalmology indications.

Financial highlights

• Revenue rose to RMB1,710.2 million from RMB1,076.1 million in 2023, a 59% increase year-over-year.

• Gross profit reached RMB1,367.4 million, up from RMB822.9 million.

• Loss for the year narrowed to RMB1,468.4 million, a 2.8% decrease from 2023.

• Adjusted net loss decreased by 1.8% to RMB1,399.6 million.

• R&D expenses increased 17.9% to RMB1,539.8 million, mainly due to expanded clinical trials.

• Cash and cash equivalents stood at RMB759.5 million at year-end.

Outlook and guidance

• Plans to further commercialize core products and expand market presence in China.

• Will accelerate clinical trials and regulatory filings for pipeline products, including international studies.

• Continued collaboration with global partners to support international development.