Core Insights - The company reported a significant increase in revenue for the six months ending June 30, 2025, amounting to 38.027 million RMB, representing a year-on-year increase of 49,285.71% [1] - Research and development (R&D) expenses rose to 168 million RMB, reflecting a year-on-year increase of 41.05% [1] Revenue Analysis - The revenue increase is primarily attributed to recent payments received under the licensing and collaboration agreement with Axion Bio, Inc. [1] R&D Expense Breakdown - The increase in R&D expenses is due to several factors: - A rise in preclinical and CMC expenses by 43.4 million RMB, mainly due to increased production and CDMO costs for clinical trial drugs IMM01, IMM2510, and IMM0306 [1] - Clinical trial expenses increased by 8.3 million RMB, primarily due to ongoing clinical development of IMM01 and IMM2510 [1] - Salary and related benefits increased by 4.9 million RMB due to the expansion of the clinical team, aligning with the company's ongoing drug pipeline development [1] - This increase was partially offset by a decrease of 6.7 million RMB in share-based payments, attributed to a reduction in the number of restricted shares vested during the six months ending June 30, 2025 [1]
宜明昂科-B发布中期业绩 收入3802.7万元 同比大幅增加49285.71%