Boji Medical expands AR882 capsule clinical trial contract value

Guangzhou Boji Medical & Biotechnological Co., Ltd. (Boji Medical) announced an amendment to its contract with Guangzhou Rui'anbo Medical Technology Co., Ltd. for clinical trial services related to the "AR882 capsule." The original contract, signed on April 3, 2024, covered Phase II/III clinical trials for AR882 capsule in patients with primary gout and hyperuricemia, with a total value of RMB 69.63 million (including tax).

The new "Supplementary Agreement to the Technical Services (Entrustment) Contract for Class 1 New Drug AR882 Capsule Phase II/III Clinical Trial" revises parts of the original agreement due to project changes. This supplement adds RMB 22.45 million (including tax) in clinical research fees, bringing the total contract value to RMB 92.08 million (including tax). The increased scope includes adjustments to the number of participants for the Phase III trial and extended treatment services.

Boji Medical will recognize revenue based on project progress, expecting a positive impact on future operating performance. However, the company highlighted potential risks, including the complexity and long duration of new drug development, which could lead to project delays or early termination, as well as a lack of performance guarantees from the client.