CanSino biologics sees strong revenue growth, reduced losses in first half

CanSino Biologics Inc. reported a 31.1% increase in revenue for the six months ended June 30, 2025, reaching RMB374.1 million, up from RMB285.4 million in the same period of 2024. This growth was primarily fueled by meningococcal vaccine sales, which generated RMB363.7 million, an increase of 38.4% year-over-year. The company also significantly reduced its operating loss by 99.1% to RMB(2,208) million from RMB(250,466) million in 2024, and net loss decreased by 94.1% to RMB(13,527) million. Basic and diluted loss per share improved to RMB(0.05) from RMB(0.91).

Gross profit rose to RMB296.6 million, an increase of RMB109.4 million compared to the prior period, with a gross profit margin for vaccine products sold improving to 79.3% from 67.3%. This was attributed to increased sales of high-margin meningococcal vaccines, reduced excess capacity costs, and efficiency measures. R&D expenses decreased by 20.5% to RMB147.8 million due to a focus on high-potential projects and resource integration. The company's gearing ratio as of June 30, 2025, stood at 13.18%.

Key pipeline advancements include NDA approval for iPneucia from NMPA in June 2025, and priority review status for DTCP Infant from NMPA in February 2025. The company obtained clinical trial approval for Recombinant Poliomyelitis Vaccine from NMPA in July 2025 and for DTcP-Hib-MCV4 Combined Vaccine from NMPA in February 2025.