Zhaoke Ophthalmology reports wider loss amid R&D expansion, lower revenue

Zhaoke Ophthalmology announced a net loss of RMB116.6 million for the six months ended June 30, 2025, an increase from RMB75.8 million in the same period of 2024. This was primarily attributed 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 in the first half of 2024.

Despite the loss, the company made significant R&D advancements, with three core drug candidates entering the New Drug Application (NDA) stage. R&D expenses rose to RMB113.1 million from RMB89.8 million in the prior year, driven 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 maintains a strong financial foundation with RMB1,051.3 million in cash and equivalents as of June 30, 2025. It expects to have 12 commercialized products by the end of 2026 and continues its global expansion through strategic partnerships.