Mabpharm returns to profitability on strong revenue surge

Mabpharm Limited announced unaudited consolidated financial results for the six months ended June 30, 2025, marking a return to profitability with a profit of RMB2,898 thousand. This is a 103.0% improvement from a loss of RMB97,569 thousand in the same period last year. Revenue surged by 152.7% to RMB274,183 thousand from RMB108,483 thousand in the first half of 2024, primarily due to increased sales of pharmaceutical products and revenue from exclusive commercialization rights in Mainland China. Gross profit also rose significantly by 155.7% to RMB241,245 thousand.

The company's core products, CMAB009 (cetuximab beta injection) and CMAB007 (Omalizumab alpha for Injection), received NMPA marketing approvals in June 2024 and May 2023, respectively, with CMAB009 sales volumes increasing by over ten times. Research and development expenses decreased by 57.7% to RMB23,809 thousand, mainly due to the capitalization of three R&D products.

As of June 30, 2025, Mabpharm's net assets increased by 11.2% to RMB98,863 thousand from RMB88,934 thousand at December 31, 2024. The gearing ratio was 90.7% compared to 91.2% at the end of 2024. Cash and cash equivalents at the end of the period stood at RMB94,162 thousand.