Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd (HKG: 6990) has announced its financial results for the first half of 2024, reporting a 32.2% year-on-year (YOY) increase in revenues to RMB 1.383 billion, which includes a USD 90 million cooperation payment from its U.S. partner Merck, Sharp & Dohme Inc. (MSD; NYSE: MRK),. The company turned a profit of RMB 310 million for the period, a significant turnaround from the RMB 31.13 million loss incurred in the same period of 2023.
The company’s core product, sacituzumab tirumotecan (SKB264/MK-2870), a TROP2-targeted antibody drug conjugate (ADC), is currently under priority review in China for the treatment of second-line and above triple negative breast cancer (TNBC) and locally advanced or metastatic EGFR mutant non-small cell lung cancer (NSCLC) that has failed EGFR-TKI and platinum-based chemotherapy. Additionally, its first-line treatment of TNBC, third-line treatment of HR+/HER2- breast cancer, and EGFR mutant NSCLC previously treated with EGFR-TKI have been granted breakthrough therapy designations.
Sichuan Kelun-Biotech anticipates the market launch of sacituzumab tirumotecan in China by the end of this year or early next year, along with other products such as the HER2 ADC trastuzumab botiotin (A166), PD-L1 monoclonal antibody A167, and A140, a biosimilar of Merck KGaA/Bristol-Myers Squibb’s (BMS, NYSE: BMY) cetuximab (trade name: Erbitux).- Flcube.com
