Investment Rating - The report does not specify a clear investment rating for the company [1]. Core Insights - The company reported a revenue of 6.34 million yuan for the first half of 2024, with a net loss of 350 million yuan, which is a reduction of 50 million yuan compared to a net loss of 400 million yuan in the first half of 2023 [2]. - As of June 30, 2024, the company had cash and cash equivalents amounting to 1.65 billion yuan [2]. - The core product, CT053 (赛恺泽), was approved for market launch on March 1, 2024, and has received 52 orders from Huadong Medicine as of the end of July 2024 [2]. - The company plans to submit a New Drug Application (NDA) for CT041 in the first half of 2025, following the completion of patient enrollment in a confirmatory Phase II clinical trial [2]. - The company expects revenues to grow significantly, projecting 100 million yuan in 2024, 300 million yuan in 2025, and 700 million yuan in 2026 [3][10]. Financial Summary - Revenue projections for 2024-2026 are as follows: 1 billion yuan in 2024, 3 billion yuan in 2025, and 7 billion yuan in 2026 [9][10]. - The expected growth rates for revenue are 200% from 2024 to 2025 and 133.33% from 2025 to 2026 [4]. - The net profit attributable to the parent company is projected to be -747.79 million yuan in 2024, -657.51 million yuan in 2025, and -523.17 million yuan in 2026 [4]. - The earnings per share (EPS) are expected to improve from -1.31 yuan in 2024 to -0.33 yuan in 2026 [4].
科济药业-B：赛恺泽上市，CT041计划2025年上半年提交NDA