Shanghai-based Junshi Biosciences (HKG: 1877) reported a 55.26% year-on-year (YOY) revenue decline to RMB 946.05 million (USD 136.9 million) in H1 2022, with net losses of RMB 912.4 million (USD 132 million). R&D spending rose 12% YOY to RMB 1.06 billion (USD 153.6 million), while cash reserves stood at RMB 4.27 billion (USD 617.8 million).
Tuoyi (Toripalimab) Highlights
- Sales Growth: Tuoyi, Junshi’s flagship PD-1 inhibitor, saw sales jump 195% from H2 2021 to H1 2022, reaching RMB 298 million (USD 43.1 million). Q2 sales hit RMB 188 million (USD 27.2 million), up 70% QOQ despite COVID-19 lockdowns.
- NRDL Coverage: Expanded in January 2022 to include nasopharyngeal carcinoma (NPC) and urothelial carcinoma (UC), boosting market access.
- New Approvals: Approved in May 2022 for first-line treatment of esophageal squamous cell carcinoma (ESCC) in combination with chemotherapy.
- FDA Designations: Awarded fifth orphan drug designation (ODD) for small-cell lung cancer in April 2022. Refiled for U.S. approval in July 2022, with a PDUFA date of December 23, 2022.
Pipeline and Commercial Updates
- Biosimilar Adalimumab: Approved in March 2022 for rheumatoid arthritis, ankylosing spondylitis, and psoriasis, adding a new revenue stream.
- Sales Force: Junshi’s in-house team expanded to 1,100, supporting commercial growth.-Fineline Info & Tech
