China-based Ascentage Pharma Group International (NASDAQ: AAPG, HKG: 6855) unveiled its 2024 financials, showing revenues skyrocketing 342% year-on-year (YOY) to RMB980 million (USD135 million). This remarkable growth was primarily driven by an option payment from Japanese partner Takeda and robust sales of olverembatinib, the novel BCR-ABL1 tyrosine kinase inhibitor (TKI), which generated RMB241 million (USD33 million) in sales in China, a 52% YOY increase.
Clinical Development Milestones
Ascentage Pharma made significant global clinical progress in 2024. Olverembatinib received US FDA approval in February for a global regulatory Phase III study in previously treated chronic phase (CP) chronic myeloid leukemia (CML) with or without the T315I mutation. APG-2449, a FAK/ALK/ROS1 triple TKI, was approved for two regulatory Phase III studies in China targeting non-small cell lung cancer (NSCLC).
Ongoing and Approved Studies
The company currently has ten regulatory clinical studies underway. Two of these have been approved in the US and involve olverembatinib, lisaftoclax (APG-2575), and APG-2449, highlighting Ascentage Pharma’s expanding global clinical presence and commitment to innovation in oncology.-Fineline Info & Tech
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