TransThera Sciences (Nanjing) (2617) H1 2026 earnings summary

Executive summary

• H1 revenue was RMB35.455m, entirely from a one-time upfront Neurocrine NLRP3 licensing payment; net loss narrowed to RMB95.465m from RMB122.866m YoY.

• Tinengotinib received conditional China marketing approval on 6 August 2026 for previously treated FGFR2-altered CCA; overseas Phase III enrollment was completed.

• H1-end cash and time deposits totaled RMB924.7m, following three H-share placements that raised net proceeds of ~HK$624m.

• The pipeline included six clinical-stage candidates plus preclinical programs, while commercial team, channel and supply-chain preparations advanced.

Financial highlights

• Revenue was RMB35.455m in H1 2026 versus nil in H1 2025, from a non-refundable, non-creditable upfront payment under the Neurocrine NLRP3 license and collaboration agreement.

• Gross profit was RMB35.455m; net loss was RMB95.465m versus RMB122.866m YoY, and basic and diluted loss per share was RMB0.24 versus RMB0.32.

• R&D costs rose 11.7% to RMB109.9m; administrative expenses fell 16.1% to RMB23.1m, partly reflecting lower one-off listing costs.

• Other income increased to RMB14.0m, including RMB9.0m in government grants; other expenses rose to RMB11.9m, mainly from RMB11.7m net FX losses.

Outlook and guidance

• Priorities include domestic confirmatory and overseas registrational Phase III development for CCA, plus Tinengotinib Phase II combination studies in prostate, breast and liver cancers.

• Commercial launch preparations include hospital access, channel coverage, out-of-hospital networks, team build-out and compliant operating systems; commercial operations are planned in line with regulatory progress.

• Further development includes TT-00973 with firmonertinib in NSCLC and TT-01488 with anti-CD20 therapy in MCL; preclinical programs target oncology, inflammation and metabolic diseases.

• Remaining proceeds from the 2025 global offering are expected to be fully utilized by end-2027; placement proceeds have utilization timelines extending through 2028, 2029 and 2030.