Cai Jing Wang·2025-08-07 07:53Core Insights - The company reported total revenue of $1.3 billion for Q2 2025, a 42% increase from $929 million in the same period last year, primarily driven by sales growth of Brukinsa® (Zebutinib) in the US and Europe [1] - Product revenue for Q2 2025 was $1.3 billion, up from $921 million year-over-year, with the increase attributed to Brukinsa® sales [1] - In the US, Brukinsa® sales reached $684 million in Q2 2025, a 43% increase from $479 million in the previous year, supported by strong demand across all indications and moderate net pricing benefits [1] Revenue Breakdown - In Europe, Brukinsa® sales for Q2 2025 were $150 million, an 85% increase, driven by market share gains in major European markets including Germany, Italy, Spain, France, and the UK [1] - Baiyuean® (Tislelizumab) sales for Q2 2025 were $194 million, reflecting a 22% year-over-year growth [2] Regulatory Approvals and Market Expansion - Brukinsa® is now approved in 75 markets globally, with five new markets added or expanded for reimbursement this quarter [2] - Baiyuean® is approved in 47 markets globally, with 20 new markets added for reimbursement, including Japan, Europe, and Australia [2] - Recent approvals include the European Commission's endorsement for Baiyuean® in combination with chemotherapy for various cancer treatments [2] Profitability Metrics - The gross margin under GAAP for global product revenue was 87.4% in Q2 2025, up from 85.0% year-over-year, primarily due to the higher sales proportion of Brukinsa® [3] - Adjusted gross margin for product sales increased to 88.1% in Q2 2025 from 85.4% in the same period last year [3]