TransThera Sciences (Nanjing) (2617) H2 2025 earnings summary

Executive summary

• Audited FY2025 net loss widened to RMB295.964 million from RMB274.610 million; basic and diluted loss per share was RMB0.76 vs. RMB0.72.

• Tinengotinib’s cholangiocarcinoma NDA was accepted in China in December 2025 and received priority review; domestic and international Phase III trials are underway.

• R&D-focused operations had six clinical-stage candidates at year-end; 2026 priorities include Tinengotinib’s expected China NDA approval and commercialization preparation.

Financial highlights

• FY2025 loss before tax and net loss were RMB295.964 million, compared with RMB274.610 million in FY2024.

• R&D costs rose 1% YoY to RMB246.8 million; administrative expenses increased 15% to RMB54.8 million, mainly due to listing expenses and professional fees.

• Other income and gains fell 48.6% YoY to RMB9.2 million, reflecting lower bank interest income and government grants.

• Total comprehensive loss was RMB296.248 million vs. RMB274.534 million in FY2024.

Outlook and guidance

• Expected China NDA approval in 2026 for Tinengotinib in previously treated, FGFR inhibitor-treated advanced or metastatic CCA; domestic confirmatory and overseas registrational Phase III trials will advance.

• International Phase III CCA trial enrollment is expected to be completed in 2026; patient enrollment was ongoing at year-end.

• Plans include forming a commercialization team in 2026 and advancing Tinengotinib combination studies in prostate, breast and liver cancers.

• Further exploratory studies are planned for TT-00973 and TT-01488, while early-stage non-oncology programs and international collaborations remain strategic priorities.