Sichuan Kelun-Biotech

6990.HK▲

Kelun Pharmaceutical's first-half net profit attributable to parent reached 1.13 billion yuan, up 12.7% year on year

Kelun Pharmaceutical released its 2026 interim report, showing first-half net profit attributable to the parent of 1.13 billion yuan, up 12.7% year on year. Operating revenue was 8.84 billion yuan, down 2.7% year on year. Net profit attributable to the parent after deducting non-recurring items was 699 million yuan, down 29.0% year on year. Net cash flow from operating activities was 2.341 billion yuan, up 96.8% year on year. In the second quarter, net profit attributable to the parent was 674 million yuan, up 61.9% year on year, but net profit attributable to the parent after deducting non-recurring items was 318 million yuan, down 24.5% year on year. The company said that prices of some products declined due to the impact of centralized procurement policies, but increased sales revenue from innovative drugs and receipt of settlement income drove profit growth at Kelun-Biotech.

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Biotech & Genomic Medicine▲

Kelun-Biotech Reports 2026 Interim Results with 112% Product Sales Growth

Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. announced its unaudited consolidated results for the six months ended June 30, 2026, with total revenue of approximately RMB 978 million and pharmaceutical product sales of RMB 657 million, up 112% year-over-year. The company attributed the growth to expert recognition of high-quality clinical data, shifts in treatment paradigms, and enhanced drug accessibility, including NRDL inclusion for three indications of sac-TMT and cetuximab N01 effective January 1, 2026. Sac-TMT received marketing approval for a fourth indication, 2L+ HR+/HER2- breast cancer, and two new indication applications were accepted for review, while the global Phase 3 TroFuse-005 trial met primary endpoints of overall survival and progression-free survival in advanced or recurrent endometrial cancer. Kelun-Biotech also completed a placing of H Shares in July 2026 with net proceeds of approximately HK$2,723.4 million and removed the "B" marker from its stock code on April 14, 2026.

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Biotech & Genomic Medicine ▲

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Biotech & Genomic Medicine

Crescent Biopharma reports $143.7 million public offering and pipeline progress

Crescent Biopharma completed a $143.7 million public offering extending its expected cash runway into the second half of 2028. The company is advancing its clinical pipeline, with enrollment progressing in the global ASCEND Phase 1/2 trial of CR-001, a PD-1 x VEGF bispecific antibody, across multiple solid tumor types. A Phase 2 trial combining CR-001 with sacituzumab tirumotecan in non-small cell lung cancer is underway in China under a collaboration with Kelun-Biotech. A Phase 1/2 trial of CR-003, an ITGB6-targeted ADC, is ongoing in China, and a global Phase 1/2 trial of CR-002, a PD-L1-targeted ADC, is on track to begin in the second half of 2026. Multiple key clinical data readouts are anticipated starting in the first quarter of 2027, including proof-of-concept data for CR-001 and CR-003. Second quarter 2026 financial results showed a net loss of $24.8 million, with research and development expenses of $19.4 million and cash of $171.6 million as of June 30, 2026, or $305.1 million on a pro forma basis including the offering proceeds.

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Biotech & Genomic Medicine

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Biotech & Genomic Medicine▼

Kelun-Biotech Responds to Commercial Bribery Allegations, Says Claims Are Untrue

Kelun-Biotech has responded to a whistleblower letter circulating in the market, stating that its contents are untrue. The letter alleges that the company and related personnel were involved in commercial bribery concerning the product sacituzumab tirumotecan, which was originally priced at 9,399 yuan per vial in 2025, and implicates multiple hospitals in Beijing. Kelun-Biotech said it will further verify the identity of the whistleblower and pursue legal liability. Kelun-Biotech listed on the Hong Kong Stock Exchange in July 2023 and is a controlled subsidiary of Kelun Pharmaceutical. Sacituzumab tirumotecan is its core TROP2-targeting antibody-drug conjugate.

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Biotech & Genomic Medicine ▼

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Kelun Pharmaceutical Subsidiary SKB565 New Drug Clinical Trial Application Approved by National Medical Products Administration

Kelun Pharmaceutical's controlling subsidiary Kelun Biotech has received a clinical trial notice from the Center for Drug Evaluation of the National Medical Products Administration, approving the clinical trial application for the novel dual-payload ADC drug SKB565 for the treatment of advanced solid tumors. SKB565 is the first dual-payload antibody-drug conjugate from Kelun Biotech to enter the clinical stage, featuring an innovative dual-payload design with a dual anti-tumor mechanism.

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Biotech & Genomic Medicine

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Kelun-Biotech's sac-TMT plus pembrolizumab meets primary endpoint in Phase III first-line PD-L1-negative non-squamous NSCLC trial

Kelun-Biotech announced that the Phase III OptiTROP-Lung06 study of its TROP2-directed ADC sacituzumab tirumotecan combined with pembrolizumab met its primary endpoint of progression-free survival in first-line treatment of PD-L1-negative locally advanced or metastatic non-squamous non-small cell lung cancer. The combination showed a statistically significant and clinically meaningful improvement in PFS compared with pembrolizumab plus pemetrexed and platinum-based chemotherapy, with a positive overall survival trend and no new safety signals. This is the world's first Phase III trial of an ADC plus an immune checkpoint inhibitor to meet its primary endpoint in this patient population. The company plans to discuss the results with China's Center for Drug Evaluation, building on prior positive Phase III data for the same combination in PD-L1-positive NSCLC.

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