Core Insights - In 2024, Junshi Biosciences' PD-1 monoclonal antibody Tuoyi achieved domestic sales revenue of 1.501 billion yuan, representing a year-on-year growth of approximately 66% [1] - The company reported a significant narrowing of net profit loss, with a total revenue of 1.948 billion yuan, up 29.67% year-on-year, and a net profit loss of 1.281 billion yuan, a reduction of about 44% compared to the previous year [1] - Junshi Biosciences has four commercialized drugs, including Tuoyi, with 11 approved indications in China, including treatments for kidney cancer and triple-negative breast cancer, making it the first immunotherapy approved in these areas [1] Financial Performance - The company’s total revenue for 2024 was 1.948 billion yuan, a 29.67% increase year-on-year [1] - The net profit loss for the year was 1.281 billion yuan, which is a 44% reduction compared to the previous year [1] - Sales expenses for drugs were 985 million yuan, a 16.6% increase, but lower than the growth rate of sales revenue [2] Research and Development - R&D expenses decreased to 1.275 billion yuan, down 34.18% year-on-year, attributed to the completion of multiple clinical trials for drugs like Tuoyi and Junshida [2] - The company has nearly 30 drug candidates in clinical trials and over 20 in preclinical development [2] - Junshi Biosciences aims to focus resources on more promising R&D projects and is implementing a "quality improvement and efficiency return" action plan [2] Market Expansion - Tuoyi is expanding into international markets, having received approvals in the US, EU, India, UK, Jordan, Australia, and Singapore, although overseas sales figures have not been disclosed [2] - The company plans to selectively seek overseas strategic partners to enhance the commercialization potential of its drugs and diversify revenue sources [2]
PD-1单抗销售放量，君实生物去年亏损收窄四成