Sichuan Biokin Pharmaceutical Co (688506) Q3 2025 earnings summary

Executive summary

• Achieved a significant milestone payment from BMS collaboration, triggering $250 million revenue recognition in Q3 2025 due to clinical trial progress.

• Year-to-date revenue declined 63.52% year-over-year, reflecting a high base from prior BMS upfront payments.

• Net loss attributable to shareholders for the first nine months was ¥494.5 million, compared to a profit of ¥4.07 billion in the prior year.

Financial highlights

• Q3 revenue: ¥1.89 billion; year-to-date revenue: ¥2.07 billion, down 63.52% year-over-year.

• Net loss for the first nine months: ¥494.5 million; basic and diluted EPS: -¥1.23.

• Operating cash flow for the first nine months: -¥1.89 billion, a 142.10% decline year-over-year.

• Gross margin and segment cost details not specified.

Outlook and guidance

• Continued focus on advancing product pipeline and accelerating R&D to achieve earlier product launches.

• Ongoing collaboration with BMS expected to provide further milestone payments as clinical programs progress.