{"id":7086,"date":"2024-03-29T20:50:23","date_gmt":"2024-03-29T12:50:23","guid":{"rendered":"https:\/\/flcube.com\/?p=7086"},"modified":"2024-10-16T20:53:40","modified_gmt":"2024-10-16T12:53:40","slug":"alphamab-oncology-reports-31-12-revenue-growth-in-2023-with-continued-rd-focus","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=7086","title":{"rendered":"Alphamab Oncology Reports 31.12% Revenue Growth in 2023 with Continued R&D Focus"},"content":{"rendered":"\n

Alphamab Oncology (HKG: 9966<\/a>), a Chinese biopharmaceutical company, has released its financial performance and business updates for 2023. The company reported revenues of RMB 218.77 million (USD 27.6 million), marking a 31.12% increase year-on-year (YOY). Product sales accounted for RMB 195.55 million (USD 27 million), with a YOY growth of 32.54%. Research and development expenses were recorded at RMB 40.752 million (USD 5.6 million), a decrease of 12.97% YOY. The total losses for the period were RMB 210.59 million (USD 29.1 million), down by 35.35% YOY. As of December 31, 2023, Alphamab’s cash reserves were substantial at RMB 1.40724 billion (USD 194.6 million).<\/p>\n\n\n\n

The company’s core product, envafolimab (KN035), known as the world’s first and only PD-L1 single-domain antibody and human IgG1 Fc fusion protein suitable for subcutaneous injection, is undergoing multiple pivotal studies in China and the United States. It is being explored as a perioperative treatment for resectable non-small cell lung cancer and as a first-line combination therapy for advanced endometrial cancer, among other indications. In a significant deal, Alphamab entered into a USD 700 million licensing agreement with Glenmark Pharmaceuticals Ltd (NSE: GLENMARK<\/a>), granting the Indian company exclusive rights to develop and commercialize the drug in several international markets.<\/p>\n\n\n\n

Alphamab has three products in late-stage development. The PD-L1\/CTLA-4 bispecific antibody (BsAb) KN046 is involved in nearly 20 clinical studies across China, the United States, and Australia, covering over 10 types of tumors at various stages, including non-small cell lung cancer, pancreatic cancer, thymus cancer, liver cancer, esophageal squamous cell cancer, and triple negative breast cancer. KN026, a BsAb targeting HER2 and binding to two distinct HER2 epitopes simultaneously, is the subject of numerous clinical studies in HER2 positive breast cancer. Additionally, the HER2-targeted antibody drug conjugate (ADC) JSKN003 has initiated Phase III clinical studies in advanced breast cancer with low HER2 expression.- Flcube.com<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Alphamab Oncology (HKG: 9966), a Chinese biopharmaceutical company, has released its financial performance and business…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[187,27,854,1289],"class_list":["post-7086","post","type-post","status-publish","format-standard","hentry","category-company","tag-alphamab-oncology","tag-finanical-reports","tag-hkg-9966","tag-nse-glenmark"],"yoast_head":"\nAlphamab Oncology Reports 31.12% Revenue Growth in 2023 with Continued R&D Focus - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Alphamab Oncology (HKG: 9966), a Chinese biopharmaceutical company, has released its financial performance and business updates for 2023. 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