SHANGHAI—MicuRx Pharmaceuticals (SHA: 688373), a Shanghai-based developer of antibacterial drugs, has released its financial report for the first half of 2024, showing a revenue increase of 44.24% year-on-year to RMB 60.7382 million. Despite an expanded net loss of RMB 201 million, the company has significantly increased its research and development (R&D) investment, which now stands at RMB 166.1674 million, a 72.91% increase from the same period last year.
The R&D investment now accounts for an impressive 273.58% of operating revenue, a substantial increase of 45.37 percentage points year-on-year. This substantial commitment to R&D underscores MicuRx Pharma’s dedication to advancing its pipeline of innovative antibacterial drugs.
The company’s commercialized product, contezolid, a next-generation oxazolidinone antibiotic, is used for treating infections caused by multidrug-resistant Gram-positive bacteria. It has achieved coverage in 533 hospitals across China, with official access and batch procurement in 143 hospitals. MicuRx Pharma’s pipeline includes MRX-4, the pro-drug version of contezolid, which is advancing into a Phase III clinical study. Additionally, MRX-8, intended for treating multidrug-resistant gram-negative bacterial infections, has successfully concluded its Phase I study in China, meeting expected goals. The company also anticipates the completion of Phase I clinical trials for MRX-5, which targets non-tuberculous mycobacterial infection (NTM), in Australia within the year.
MicuRx Pharmaceuticals’ financial report for 2024H1 reflects a strategic focus on bolstering its R&D efforts, even as it manages increased operational losses. The company’s progress in clinical trials and the expansion of its marketed product’s reach indicate a forward-moving trajectory in the development of novel antibacterial therapies. – Flcube.com
