QYUNS-B (02509) extended its afternoon gains by over 22%, hitting a high of HK$27.7, marking its highest level since September last year. As of press time, the stock was up 22.08% to HK$27.42, with turnover of HK$56.16 million.
On the news front, QYUNS-B recently released its interim results for the six months ended June 30, 2025. The group achieved revenue of RMB 206 million, representing a year-on-year increase of 359.69%. R&D expenses amounted to RMB 151 million, up 4.25% year-on-year, while losses for the period decreased by 83.11% compared to the same period last year.
Revenue for the period primarily included income from licensing agreements, encompassing upfront payments related to overseas licensing of QX030N and non-cash consideration for approximately 24.88% equity stake in Caldera Therapeutics, as well as milestone payments for the first patient enrollment in QX004N Phase III trial, totaling RMB 181 million. Additionally, revenue from CDMO services and R&D services for QX004N and QX008N projects contributed approximately RMB 22 million.
As of the announcement date, the company has one commercialized product - Celexin®, China's first ustekinumab biosimilar.
Development of two core products is progressing smoothly. QX005N (IL-4Rα monoclonal antibody) completed patient enrollment for its China Phase III trial in prurigo nodularis (PN) in March 2025, while patient enrollment for the China Phase III trial in atopic dermatitis (AD) is nearing completion. These two clinical trials are expected to read out primary endpoint data by the end of this year and early next year, respectively. QX002N (IL-17A monoclonal antibody) achieved its primary endpoint in the China Phase III trial for ankylosing spondylitis (AS) in February 2025, with plans to submit BLA within this year. QX004N (IL-23p19 monoclonal antibody) and QX008N (TSLP monoclonal antibody) are in Phase III clinical stage for psoriasis (Ps) and Phase II clinical stage for chronic obstructive pulmonary disease (COPD) respectively in China, with partners accelerating development.