PEGBIO CO-B (02565) has released its interim financial report for the six months ended June 30, 2025. The company recorded a net loss from other operations of RMB 11.27 million, with research and development expenses totaling RMB 110 million and a loss per share of RMB 0.55.
During the reporting period and up to the date of this announcement, the group achieved significant progress in core product commercialization, advancement of its innovative pipeline, development of next-generation intelligent R&D capabilities, and global collaborations.
The commercialization of the group's core product, Vipnaratide Injection (PB-119, brand name: Paidakang®), has continued to advance steadily. In March 2026, the group entered into a strategic cooperation agreement with Shanghai Tengrui Pharmaceutical Co., Ltd. for the commercialization of Vipnaratide Injection in mainland China. By June 2026, the group had received the first milestone payment of approximately HK$61.0 million under this agreement.
Vipnaratide Injection has been included in the list of drugs passing preliminary formal review for the 2026 National Basic Medical Insurance, Work-Related Injury Insurance, and Maternity Insurance Drug Catalogue and Commercial Insurance Innovative Drug Catalogue Adjustments, as published by the National Healthcare Security Administration. Having satisfied the "Condition 1 for Drugs Outside the Catalogue" application criteria, the product has made further headway in market access efforts.
Following the reporting period, the first batch of commercial prescriptions for Paidakang® was issued at multiple medical institutions, further promoting clinical application and patient accessibility. With the successful rollout of these initial commercial prescriptions nationwide, all conditions for the second milestone payment of approximately HK$49 million under the agreement have been fully met. The group expects to receive this payment within the stipulated payment period under the agreement.
Alongside the commercialization of its core product, the group continues to concentrate on diabetes, obesity, and related metabolic diseases, driving the development of next-generation innovative therapies with differentiation potential. During the reporting period, the first-in-human study of CR059 achieved interim milestones, with related research findings accepted by a major international academic conference. The group also continues to advance preclinical and subsequent development work on key innovative drug candidates, including APGP6 and PB-2312.
Based on clinical value, product differentiation potential, market competitive landscape, and R&D resource allocation, the group continuously evaluates and optimizes the development priorities of its various R&D projects.
Comments