Zhaoke Ophthalmology's losses widen on R&D surge, revenue dips

Zhaoke Ophthalmology Limited reported a loss of RMB116.6 million for the six months ended June 30, 2025, up from RMB75.8 million in the same period of 2024. This was primarily due to the absence of a one-off license income in the prior period and increased R&D expenses. Revenue for the period decreased to RMB15.8 million from RMB49.8 million year-over-year.

R&D expenses rose by RMB23.3 million to RMB113.1 million, fueled by the commencement of Phase I and II clinical trials for BRIMOCHOL™ PF and CARBACHOL™ PF, and an additional Phase III clinical trial for CsA Ophthalmic Gel. The company maintained a strong cash position with RMB1,054.2 million in cash and cash equivalents (including time deposits) as of June 30, 2025.

The company is progressing with regulatory reviews for key assets, including Atropine Sulfate Eye Drops (0.01% and 0.02% doses) and CsA Ophthalmic Gel. It also achieved significant milestones such as FDA clearance for CsA Ophthalmic Gel's IND application and Orphan Drug Designation for melphalan in pediatric retinoblastoma, expanding its global footprint with new partnerships.