Ascentage Pharma reported its unaudited financial results for the six months ended June 30, 2025, on August 20, 2025. Revenue for the period was $32.6 million, a decrease of 71.6% year-over-year, primarily due to a $93.4 million intellectual property revenue recorded in the first half of 2024.
Despite the overall revenue decrease, product sales of olverembatinib in China demonstrated strong growth, increasing by 92.5% year-over-year to $30.3 million. Research and development expenses increased by 19.0% to $73.8 million, reflecting ongoing global clinical trials.
The company reported a loss of $82.5 million for the six months. Cash and bank balances increased to $231.9 million as of June 30, 2025, bolstered by $132.5 million in net proceeds from the U.S. IPO in January 2025 and $190.1 million from the top-up placement in July 2025. The recent NMPA approval of lisaftoclax in July also marks a pivotal commercial milestone.
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