REMEGEN(SH:688331)2023-11-01 08:38Financial Overview - Revenue for Q3 2023 reached approximately CNY 350 million, representing a year-on-year growth of about 58% [2] - Sales expenses for Q3 2023 were approximately CNY 190 million, a year-on-year increase of about 48%, with a sales expense ratio of 55%, significantly down from 82% in the previous half [2] - R&D expenses for Q3 2023 amounted to CNY 320 million, reflecting a year-on-year growth of about 49% due to increased clinical spending both domestically and internationally [3] - Capital expenditures for Q3 2023 were approximately CNY 280 million, primarily invested in the construction of the Yantai headquarters, equipment purchases, and land acquisition for the Shanghai R&D center [3] R&D Pipeline Progress - RC18 in China: - SLE: Complete application materials submitted to CDE at the end of 2022; clinical trials for pediatric SLE and lupus nephritis are ongoing [3] - RA: Phase III clinical trial completed, meeting primary clinical endpoints; application materials submitted to CDE in August [3] - MG/pSS/IgAN: Phase III clinical trials progressing smoothly [3] - Exploring potential for RC18 in new treatment areas such as IgG4-RD and membranous nephritis [3] - RC18 International: - SLE: Phase III international multi-center clinical trials are underway [3] - MG: Received orphan drug designation from FDA; Phase III clinical trial initiated [3] - RC48 in China: - Focus on multiple clinical studies for urothelial carcinoma [4] - Ongoing clinical trials for gastric cancer and breast cancer [4] - Approved clinical research for gynecological tumors [4] Commercial Product Sales Progress - Sales of Taitasip showed rapid growth in Q3 2023 [5] - As of September 30, 2023, approximately 700 personnel, including over 100 in nephrology and about 50 in internal medicine [5] - Coverage expanded to over 2,300 hospitals nationwide, with 150 new hospitals added this quarter [5] - Over 23,000 target doctors covered [5] - Sales of Vidisizumab remained stable in Q3 2023 [5] - Approximately 600 personnel as of September 30, 2023 [5] - Coverage extended to about 2,000 hospitals, with over 630 hospitals admitted [5] - Coverage of over 24,000 target doctors [5]