JACOBIO PHARMACEUTICALS GROUP (JACOBIO) reported a sharp turnaround for the six months ended 30 June 2026, converting a RMB59.00 million loss in the prior-year period into a RMB600.62 million profit.

Revenue jumped 1,499.3% year-on-year to RMB730.87 million, driven mainly by: • A USD100 million (about RMB716.33 million) upfront and R&D reimbursement from AstraZeneca tied to the global licence for pan-KRAS inhibitor JAB-23E73. • Ongoing royalties and service income from Allist covering KRAS G12C inhibitor 艾瑞凱® (glecirasib) and SHP2 inhibitor sitneprotafib.

Cost of revenue totaled RMB18.16 million, yielding a gross profit of RMB712.71 million versus RMB45.66 million a year earlier.

R&D expenditure was trimmed 1.1% to RMB92.17 million through staff-cost optimisation, while administrative expenses were flat at RMB18.65 million, underscoring tighter cost control.

Net finance income reached RMB11.97 million, helped by higher deposit interest, partly offset by a RMB32.56 million foreign-exchange loss on USD and HKD balances.

Cash and bank balances, including structured deposits, stood at RMB1.68 billion at period-end, up from RMB1.13 billion at 31 December 2025. Borrowings totaled RMB94.0 million, leaving the company in a net cash position.

Pipeline highlights • JAB-23E73: 86 patients dosed in Phase I; favourable safety profile and 31.9% ORR in pancreatic ductal adenocarcinoma. A Phase Ib/III combo trial with nab-paclitaxel and gemcitabine began in July 2026. • Glecirasib: Commercially launched in China in May 2025; Phase III first-line NSCLC combo trial with sitneprotafib is under way and has Breakthrough Therapy Designation from China’s CDE. • JAB-30355 (p53 Y220C), JAB-8263 (BET inhibitor) and JAB-2485 (Aurora A) completed dose-escalation phases; additional studies are progressing.

Corporate moves • Executive Director Xiaojie Wang became Vice Chair of the Board; she stepped down as President of Administration. • Executive Director Yunyan Hu resigned as Executive Vice President to focus on board duties.

The Board declared no interim dividend.

JACOBIO stated that cash on hand, undrawn bank facilities of RMB476.5 million and disciplined spending are expected to support ongoing R&D and clinical programmes.