Akeso reports increased revenue, R&D investment despite H1 2025 loss

Akeso, Inc. announced a 37.75% increase in revenue to RMB1,411.5 million for the six months ended June 30, 2025, up from RMB1,024.7 million in the same period last year. Commercial sales, net of distribution cost, rose by 49.20% to RMB1,401.6 million, largely attributed to products like cadonilimab (PD-1/CTLA-4) and ivonescimab (PD-1/VEGF) following their inclusion in the NRDL in January 2025. Gross profit also increased by 18.82% to RMB1,120.7 million.

Despite revenue growth, the company reported a loss of RMB588.3 million for the period, compared to RMB249.3 million in H1 2024. This was primarily due to a RMB191.7 million equity investment loss in Summit Therapeutics, a growth in R&D expenses by RMB136.8 million to RMB731.2 million, and increased equity incentive expenses of RMB27.2 million. Akeso continues to expand its commercial team to over 1,200 members specializing in oncology and specialty drugs.

Akeso's pipeline shows progress with cadonilimab and ivonescimab gaining new indications and multiple products advancing through clinical trials, including the first FDA-approved biologic for penpulimab (PD-1) in metastatic NPC. The company's total production capacity reached 94,000L, with plans for further expansion to support future growth.