Ascentage Pharma reported its full year 2024 unaudited financial results on March 27, 2025, showcasing a significant revenue increase to $134.3 million, a 342% surge from $31.31 million in 2023. This growth was primarily driven by a $100 million option payment received in June 2024 from Takeda Pharmaceutical Co Ltd.
Sales of olverembatinib in China increased by 52% year-over-year to $33.0 million in 2024. The company's net loss narrowed to -$55.54 million in 2024 from -$130.56 million in 2023, indicating an improvement in profitability metrics.
The company's U.S. initial public offering in January 2025 generated net proceeds of $132.5 million, contributing to a cash runway projected through 2027. Additionally, the New Drug Application for lisaftoclax was accepted for review with Priority Review designation in China, signaling further pipeline progress.
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