SHANGHAI—Shanghai Junshi Biosciences Co., Ltd (HKG: 1877; SHA: 688180) has announced its financial results for the first half of 2024, reporting a 17.37% year-on-year increase in revenue to RMB 786 million. The net loss attributable to shareholders narrowed by RMB 352 million compared to the same period last year, reaching RMB 645 million.
The growth was primarily driven by the company’s programmed death-1 (PD-1) inhibitor, Loqtorzi (toripalimab), which achieved sales of RMB 671 million, marking a 50% increase year-on-year. Toripalimab has received approval for 10 indications in mainland China, with two additional indications currently under review. Internationally, it stands as the first and only PD-1 inhibitor approved by the US FDA for the treatment of nasopharyngeal carcinoma.
During the period, Junshi Biosciences reduced its cost-based research and development investment by 42.40% year-on-year to RMB 546 million, allocating resources to projects with higher potential. The total R&D investment constituted 69.51% of the operating revenue, a significant decrease of 72.13 percentage points from the first half of the previous year.
The company’s robust pipeline includes nearly 30 investigational products in clinical development, such as the PCSK9 monoclonal antibody (mAb) JS002, IL-17A mAb JS005, CD20 × CD3 bispecific antibody JS203, and Claudin18.2 ADC JS107. These candidates reflect Junshi Bio’s commitment to advancing innovative therapies and expanding its presence in the global biopharmaceutical market. – Flcube.com
