By Fineline Cube 
China-based Ascentage Pharma (NASDAQ: AAPG; HKG: 6855) reported its financial results for the first half of 2025 on August 21. The company’s revenue reached RMB 234 million, reflecting a year-on-year decline of 71.6%. This decrease was primarily attributed to the recognition of RMB 678 million in intellectual property revenue during the same period in 2024.
Olverembatinib Shows Strong Sales Growth
Sales of olverembatinib (HQP1351) in the Chinese market reached RMB 217 million in H1 2025, marking a year-on-year increase of 92.5%. This growth was significantly bolstered by the inclusion of all approved indications for olverembatinib in China’s National Reimbursement Drug List (NRDL) since January 2025. The NRDL listing has enhanced the drug’s affordability and accessibility across the country.
As of June 30, 2025, olverembatinib was available at 782 DTP (Direct-to-Patient) pharmacies and hospitals nationwide, representing a 17% increase compared to the same period in 2024. The number of hospitals with access to the drug grew from 201 to 295 year-over-year, reflecting a 47% expansion.
R&D Investments and Financial Position
The company’s research and development (R&D) expenses rose to RMB 529 million, up 19% year-on-year. This increase was driven by higher outsourced R&D costs aimed at advancing global clinical development programs.
In July 2025, Ascentage Pharma completed a public fundraising round, securing net proceeds of RMB 1.37 billion. Combined with existing cash reserves, loan facilities, and projected future sales revenue, these funds are expected to cover operating expenses and capital expenditures until the end of 2027.-Fineline Info & Tech