Business
Alphamab Oncology Reports Full Year 2024 Financial Results and Business Highlights
Alphamab Oncology (stock code: 9966.HK) reported financial results for the full year ended December 31, 2024 and highlighted recent business progress.
About this update from Alphamab Oncology
[{"type":"text","content":"SUZHOU, China, March 26, 2025 /PRNewswire/ -- Alphamab Oncology (stock code: 9966.HK) reported financial results for the full year ended December 31, 2024 and highlighted recent business progress.","length":196,"tagName":"p"},{"type":"text","content":"Financial Summary","length":17,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"For the year ended December 31, 2024, we recorded total revenue of RMB 640.08 million, a 192.58% year-on-year increase. Meanwhile, product revenue (attributed to the Company) amounted to RMB 159.46 million.","length":206,"tagName":"p"}]},{"val":[{"type":"text","content":"For the year ended December 31, 2024, our R&D expenditure amounted to RMB 404.15 million, basically unchanged as compared with prior year.","length":142,"tagName":"p"}]},{"val":[{"type":"text","content":"For the year ended December 31, 2024, we reached profitability for the first time on an annual basis, recording profit for the year of RMB 166.34 million.","length":154,"tagName":"p"}]},{"val":[{"type":"text","content":"We have a healthy financial position, with cash reserves of RMB 1,571.47 million as of December 31, 2024.","length":105,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":607,"olType":false},{"type":"text","content":"Business Highlights","length":19,"tagName":"p"},{"type":"text","content":"With multiple proprietary platforms, the Company has established a globally competitive and differentiated pipeline that includes antibody-drug conjugation (ADC), single domain antibody, and bispecific antibodies. Envafolimab, the world's first subcutaneously injectable PD-(L)1 inhibitor, was approved by Chinese authorities in 2021, providing a safer and more convenient tumor immunotherapy for patients. Multiple assets are in phase III or pivotal clinical trials, and several other bispecific ADC new drug candidates are in preclinical development.","length":556,"tagName":"p"},{"type":"text","content":"Commercial Product","length":18,"tagName":"p"},{"type":"text","content":"KN035 (Envafolimab)","length":19,"tagName":"p"},{"type":"text","content":"KN035, an innovative anti-tumor immunotherapy drug, is the first subcutaneously injectable PD-(L)1 inhibitor worldwide, the first immunotherapy drug aimed at cross-tumor indications in China and the first domestically produced PD-L1 drug. KN035 offers a...