Betta Pharmaceuticals Co., Ltd (SHE: 300558), a Chinese pharmaceutical company, has reported its financial results for the first half of 2024, showing robust growth. The company recorded revenues of RMB 1.501 billion (USD 209.3 million), marking a 14.22% increase year-on-year (YOY), and a significant surge in net profits to RMB 217 million (USD 30.3 million), representing a 144.98% YOY increase.
In addition to its financial achievements, Betta announced that the U.S. Food and Drug Administration (FDA) accepted a New Drug Application (NDA) for ensartinib, an anaplastic lymphoma kinase (ALK) inhibitor, in March 2024. The application seeks approval for ensartinib as a first-line treatment for ALK+ locally advanced or metastatic non-small cell lung cancer (NSCLC). Following this, in April 2024, the company’s NDA for BPI-16350, a cyclin-dependent kinases 4 and 6 (CDK4/6) inhibitor, was accepted for review in China. BPI-16350 is intended for use in combination with fulvestrant for the treatment of locally advanced or recurrent hormone receptor positive (HR+) HER2-negative metastatic breast cancer in patients who have received prior endocrine therapy.
During the reported period, Betta invested RMB 382 million in research and development (R&D). The company received clearance for clinical trials of BPI-520105, a pan-EGFR inhibitor for EGFR mutant solid tumors, and BPI-221351, a dual IDH1/IDH2 inhibitor for advanced solid tumors with IDH1 and/or IDH2 mutations. Additionally, EYP-1901, an intravitreal implant co-developed with EyePoint Pharmaceuticals Inc., was approved for clinical study in China for wet age-related macular degeneration (wAMD), after showing positive results in a Phase II trial in the U.S.- Flcube.com
