China-based Ascentage Pharma (HKG: 6855) has released its 2023 interim financial report, revealing a 49% year-on-year (YOY) increase in revenues, reaching RMB 143 million (USD 19.6 million). This growth was primarily driven by product sales and commercial cooperation.
Olverembatinib’s Market Performance and Upcoming Approvals
Ascentage Pharma’s first marketed product, olverembatinib, generated RMB108 million in sales, marking a 37% YOY increase. The drug entered the National Reimbursement Drug List (NRDL) in January 2023, leading to a significant jump in Q2 sales of 153% YOY and a substantial increase in volume of 560% YOY. Olverembatinib is nearing market approval for the treatment of chronic-stage chronic myeloid leukemia (CML) patients with prior tyrosine kinase inhibitor (TKI) resistance. Additionally, it has been cleared for a regulatory Phase III study in newly diagnosed Philadelphia chromosome positive (Ph+) acute lymphoblastic leukemia (ALL) patients in combination with chemotherapy. The drug is also progressing in a gastrointestinal stromal tumor (GIST) study.
APG-2575’s Global Regulatory Phase III Approval
Ascentage Pharma’s Bcl-2 inhibitor, APG-2575, has received approval for a global regulatory Phase III study in patients with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL) who have received previous treatment.
European Union QP Audit and Capital Raising
Ascentage Pharma has successfully passed the Qualified Person (QP) audit in the European Union, a significant step towards expanding its international footprint. During the period, the company also raised HKD550 million, bolstering its financial position for future growth and development.-Fineline Info & Tech
