SinoMab narrows H1 loss, advances key drug pipelines

SinoMab BioScience Limited reported a reduced loss of RMB49.8 million for the six months ended June 30, 2025, a substantial decrease from RMB90.6 million in the corresponding period of 2024. This improvement was primarily driven by a decrease in R&D spending on laboratory consumables and experiment costs, and lower employment costs. Total funding available to the company as of June 30, 2025, stood at RMB125.7 million.

The company made significant progress in its product pipeline, including groundbreaking preclinical results for SM03 (Suciraslimab) in systemic lupus erythematosus (SLE) treatment. Following communications with the CDE, SinoMab strategically withdrew its Biologics Licence Application (BLA) for SM03 in rheumatoid arthritis (RA) to prioritize SLE development. Positive topline results for SM17 in moderate-to-severe atopic dermatitis were also published, with the clinical bridging study for dosage formulation conversion expected to complete by Q1 2026.

SinoMab successfully raised approximately HK$124.0 million from new share subscriptions in May 2025, followed by another HK$369.5 million in August 2025, bolstering funds for pipeline advancement. The company continues to focus on "first-in-class" and "best-in-class" novel therapeutics for immunological diseases, with IND applications for new candidates projected by 2026.