Zheng Quan Shi Bao Wang·2025-08-26 13:23Core Insights - Junshi Bioscience reported a significant revenue increase of 49% year-on-year, reaching 1.168 billion yuan, while narrowing its net loss to 413 million yuan, a 36% reduction compared to the previous year [1] Revenue Performance - The sales revenue from pharmaceuticals reached 1.059 billion yuan, also reflecting a 49% year-on-year growth, driven primarily by the core product, Toripalimab [2] - Toripalimab's domestic sales amounted to 954 million yuan, marking a 42% increase, with 10 indications included in the national medical insurance directory [2] Global Expansion - Junshi Bioscience is accelerating the global rollout of Toripalimab, which has been approved in Australia, Singapore, UAE, and Kuwait, with applications submitted in 10 additional countries [3] - The company has established partnerships for commercialization, including a deal with LEO Pharma for European markets, involving an upfront payment of 15 million euros and a revenue-sharing agreement [3] R&D Focus - The company increased its R&D investment by 29% year-on-year to 706 million yuan, focusing on innovative IO 2.0 therapies [4] - Key pipelines include JS207, a PD-1/VEGF dual antibody currently in Phase II clinical trials, and JS213, a PD-1/IL-2 dual functional antibody fusion protein in Phase I trials [5] Future Pipeline - The first-in-class anti-BTLA monoclonal antibody, tifcemalimab, has entered Phase III clinical trials, while other candidates like Claudin18.2 ADC and PI3K-α inhibitors are expected to start Phase III trials in 2025 [6]