Financial Performance - Total revenue for the year ended December 31, 2022, reached RMB 481.4 million, an increase of RMB 237.7 million from RMB 243.7 million for the year ended December 31, 2021[2]. - The net loss for the year was RMB 902.7 million, down RMB 1,017.4 million from RMB 1,920.1 million in the previous year, mainly due to increased revenue and reduced R&D expenses[3]. - The company incurred a net loss of RMB 902,678 thousand in 2022, a decrease in loss compared to RMB 1,920,100 thousand in 2021[58]. - Revenue from pharmaceutical sales reached RMB 364,299,000, up from RMB 162,764,000 in the previous year, indicating a growth of 123.5%[67]. - Other income for the year was RMB 18,722,000, a decrease from RMB 45,773,000 in 2021, reflecting a decline of 59.0%[71]. Research and Development - R&D expenses decreased to RMB 614.2 million from RMB 1,304.9 million, a reduction of RMB 690.7 million, primarily due to lower milestone fees and third-party contract costs[2]. - The company is advancing over ten discovery-stage projects, including bispecific antibodies and proprietary platforms for treating resistant intracellular targets[5]. - The company has made significant progress in 2022 with multiple innovative treatment projects, including a tri-specific molecule targeting PD-L1, VEGF, and another immuno-oncology target, expected to be announced as a preclinical candidate in 2023[23]. - The company’s total adjusted R&D expenses for the year ended December 31, 2022, were RMB 559.1 million, down from RMB 1,182.1 million for the year ended December 31, 2021[92]. Product Development and Approvals - Two new products, Sugliant and Avapritinib, were successfully launched, contributing to a total of four commercialized products generating sales revenue[4]. - Five NDA approvals were obtained for three products, including Sugliant for NSCLC and Avapritinib for R/R AML, among others[4]. - The company has received five NDA approvals and submitted seven NDA applications, enhancing its diverse pipeline of marketed and near-commercialized drugs[15]. - The company has successfully completed five registration trials for Sugilumab (舒格利單抗), including studies for IV and III stage NSCLC[43]. Market Strategy and Collaborations - The company is actively pursuing NDA approvals for several drugs, including Pralsetinib for first-line treatment of locally advanced or metastatic RET fusion-positive NSCLC in mainland China in the first half of 2023[27]. - The company aims to enhance market coverage and maximize commercial potential through digital platforms and strategic partnerships with diagnostic companies and industry associations[26]. - The collaboration with Pfizer for the commercialization of Sugli (Sugilumab) in mainland China has progressed, with all commercial agreements signed and distribution accounts opened[14]. - The company has established partnerships with various industry associations to standardize diagnostic and treatment protocols, enhancing industry connections and showcasing expertise[10]. Financial Position and Assets - The company’s total assets decreased to RMB 1,246,917 thousand in 2022 from RMB 1,957,645 thousand in 2021, a decline of 36.2%[60]. - The company’s cash and cash equivalents were RMB 558,684 thousand as of December 31, 2022, down from RMB 742,724 thousand in 2021, reflecting a decrease of 24.7%[60]. - The company’s debt-to-asset ratio as of December 31, 2022, was 72.6%, significantly up from 46.9% as of December 31, 2021[96]. - The company had no significant investments, acquisitions, or disposals as of December 31, 2022, and no specific future plans for major investments or capital assets[97]. Employee and Operational Insights - The total employee count as of December 31, 2022, was 476, with 34.87% in R&D and 65.13% in sales, general, and administrative functions[94]. - The company had 232 employees in Shanghai, 54 in Beijing, 34 in Suzhou, and 156 in other regions and overseas as of December 31, 2022[94]. - The company’s total adjusted administrative and sales and marketing expenses for the year ended December 31, 2022, were RMB 489.3 million, down from RMB 561.5 million for the year ended December 31, 2021[93]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, reviewed the financial performance and confirmed compliance with relevant accounting standards[108]. - Deloitte confirmed that the financial statements for the year ending December 31, 2022, align with the audited consolidated financial statements approved by the board[109]. - The company does not recommend a dividend for the year ending December 31, 2022[110].
基石药业-B(02616) - 2022 - 年度业绩