LEADS BIOLABS-B (09887) has unveiled its interim results for the 2026 fiscal year, recording revenue of RMB 35.969 million. Research and development expenses surged by 44.92% year-on-year to approximately RMB 191 million, while administrative expenditures climbed 15.5% to RMB 41.4 million. The company posted a net loss of roughly RMB 222 million for the period, marking a 33.38% increase compared to the same timeframe last year.
According to the official announcement, the revenue stream primarily stems from a licensing agreement with Dianthus Therapeutics concerning LBL-047. This includes a milestone payment of USD 5 million (or RMB 35 million) triggered by the achievement of a Phase I clinical trial milestone in China, alongside USD 151,000 (or RMB 930,000) generated from supplying drug materials to Dianthus for its planned clinical trials.
In August 2026, the company received an option exercise fee of USD 10 million from its licensee, OblenioBio, related to the retained rights for LBL-051. This brings the total cash consideration received under that agreement to approximately USD 35 million, with expectations that at least this amount will be recognized as revenue in the second half of 2026. Additionally, the equity-based consideration is also slated for revenue recognition during that period.
The rise in R&D expenses is primarily attributed to increased spending and employee costs aimed at advancing key projects. These include (i) propelling four IND-enabling stage programs through preclinical studies and chemistry, manufacturing, and controls (CMC) activities, and (ii) conducting multiple late-stage clinical trials for 维利信® (Weilixin®).
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