China-based InnoCare Pharma (HKG: 9969) announced its 2022 interim financial results, reporting total revenues of RMB 246 million (USD 36 million), a 142% year-on-year (YOY) increase. The growth was primarily driven by a 115% sales volume increase of its Bruton’s tyrosine kinase (BTK) inhibitor orelabrutinib, which was added to the National Reimbursement Drug List (NRDL) during the period.
Financial Highlights
- Orelabrutinib Sales: RMB 217 million (USD 31.7 million), up from RMB 101 million (USD 14.7 million) YOY.
- R&D Expenditure: Increased to RMB 274 million (USD 40.1 million) from RMB 185 million (USD 27 million), due to the advancement of multiple novel programs into clinical stages and Phase III trials.
- Net Losses: Excluding exchange rate impacts, losses rose to RMB 286 million (USD 41.8 million) from RMB 233 million (USD 34.1 million) YOY.
Product Pipeline
InnoCare’s pipeline includes commercialized products orelabrutinib and tafasitamab, with 11 products in clinical development and 5 in pre-clinical stages. The company is conducting over 30 clinical trials globally.-Fineline Info & Tech
