CARsgen Therapeutics slashes net loss, boosts revenue in first half

CARsgen Therapeutics reported a net loss of RMB75 million for the six months ended June 30, 2025, a significant decrease of RMB277 million compared to RMB352 million in the same period of 2024. Adjusted net loss also fell by RMB270 million to RMB72 million. Revenue for the period reached RMB51 million, up from RMB6.34 million year-over-year, primarily attributed to sales of zevorcabtagene autoleucel. Gross profit for the six months ended June 30, 2025, was RMB29 million, a substantial increase from RMB1.6 million in the prior period.

The improved financial performance was largely due to higher other gains, a RMB116 million reduction in research and development expenses to RMB130 million, and a RMB47 million decrease in administrative expenses to RMB39 million. Cash and bank balances stood at RMB1,261 million as of June 30, 2025, a decrease of RMB218 million from December 31, 2024. The gearing ratio improved to 7.2% from 15.75% over the same period.

The company's product, zevorcabtagene autoleucel, received 111 confirmed orders in the first half of 2025. Satricabtagene autoleucel's New Drug Application was accepted by China's NMPA in June 2025, and it was granted Priority Review and Breakthrough Therapy Designation in May and March 2025, respectively.