Ascletis Pharma Inc. (HKG: 1672) reported RMB 38.2 million (USD 5.96 million) in revenue for the six months ending June 30, 2022, a 4.8% year-on-year (YOY) increase. The firm’s research and development (R&D) expenditure surged 60.5% YOY to RMB 118.8 million (USD 18.54 million), while cash reserves stood at RMB 2.48 billion (USD 361.4 million), sufficient to fund R&D for the next five years.
Product Performance
Product sales jumped 1,374.8% YOY to RMB 5.2 million (USD 757,675), driven by increased sales of ravidasvir/danoprevir, which was included in the National Reimbursement Drug List (NRDL) in December 2021. Additionally, Pegasys (peginterferon alfa-2a) generated RMB 33 million (USD 4.8 million) in promotion service revenues in H1 2022, compared to RMB 34.5 million (USD 5 million) in the same period of 2021.
Pipeline and Approvals
Ascletis has a robust pipeline covering viral diseases, nonalcoholic steatohepatitis/primary biliary cholangitis, and tumors. The company obtained seven IND approvals in China and the US during the period, advanced two drug candidates to Phase II trials, and supported six Phase II/III studies.
Business Development
The firm appointed John P. Gargiulo, former North America director of Daiichi Sankyo, as chief business officer to drive commercialization. Ascletis is collaborating with international pharma firms to maximize pipeline value, including COVID-19 therapies ritonavir and ASC10, 3CLpro inhibitor ASC11, and PD-L1 immunosuppressant ASC22 for chronic hepatitis B.-Fineline Info & Tech
