China-based JW Therapeutics (HKG: 2126) has announced its financial results for 2023, with revenues reaching RMB 173.9 million (USD 24 million), marking a 19.3% year-on-year (YOY) increase. The company’s research and development (R&D) expenditure for the year was RMB 413.6 million (USD 57.08 million), up 1.4% YOY. Sales expenses were recorded at RMB 113.2 million (USD 15.62 million), a decrease of 40.7% YOY. JW Therapeutics’ cash and cash equivalents stood at RMB 1.0059 billion (USD 140 million).
The growth was primarily driven by the company’s chimeric antigen receptor (CAR) T cell therapy, Carteyva (relmacabtagene autoleucel injection). Carteyva was first approved in China for the treatment of adult patients with relapsed or refractory large B-cell lymphoma after at least two lines of systemic therapy, and for adult patients with refractory or relapsed follicular lymphoma (FL) within 24 months of second-line or higher systemic treatment. The drug received its second indication for use in second-line or higher r/r FL in October 2022. In 2023, Carteyva saw 184 prescriptions issued and 168 reinfusion cases completed, with a 19.3% YOY increase in sales.
As of the end of 2023, Carteyva has been included in 70 commercial insurances and 105 Huiminbao insurances, facilitating reimbursement for up to 51% of patients who underwent the treatment.- Flcube.com
