Zelgen(SH:688266) Xin Lang Cai Jing·2025-04-22 10:30Core Insights - The company reported a revenue of 530 million yuan in 2024, representing a 37.9% increase, while the net profit attributable to shareholders was -140 million yuan, significantly narrowing from -280 million yuan in 2023 [1] - In Q1 2025, the revenue reached 170 million yuan, marking a 54.9% increase [1] - The commercialization of the drug Donafenib has progressed steadily, with over 1,100 hospitals and nearly 1,000 pharmacies covered by the end of 2024 [1] Financial Performance - The company achieved a revenue of 530 million yuan in 2024, driven by the steady advancement of Donafenib's commercialization [1] - The company received a licensing fee of 340 million yuan from Penglai Nuo Kang Pharmaceutical Co., Ltd. for exclusive marketing rights [1] - The company is making progress in the new drug application review for Jikaxitini tablets for treating high-risk myelofibrosis [1] R&D Progress - The company focused on core product development, achieving several milestone advancements, including successful Phase III clinical trials for Jikaxitini tablets in severe alopecia areata [2] - The safety and tolerability of Jikaxitini in treating severe alopecia areata patients were found to be good [2] - The company has completed pre-NDA communication with the CDE [2] Competitive Advantage - The antibody platform's advantages are becoming more pronounced, with multiple drugs progressing well [3] - ZG006 received orphan drug designation from the FDA for treating small cell lung cancer, showing good tolerability and safety in Phase I clinical trials [3] - The company expects substantial revenue growth, forecasting revenues of 810 million, 1.44 billion, and 2.08 billion yuan for 2025, 2026, and 2027, respectively [3]