Junshi Bio (01877) announced that it expects to achieve annual operating revenue of approximately 2.5 billion yuan in 2025, representing a year-on-year increase of about 28.32%.

The company anticipates annual research and development expenses of approximately 1.353 billion yuan for 2025, a year-on-year increase of around 6.10%.

It is forecasted that the net loss attributable to the owners of the parent company for the full year 2025 will be approximately 873 million yuan, indicating a significant reduction in losses of about 31.85% compared to the previous year.

The net loss attributable to owners of the parent company, after excluding the impact of share-based payments, is projected to be around 799 million yuan for 2025, a year-on-year decrease in losses of approximately 37.62%.

The net loss attributable to owners of the parent company after deducting non-recurring gains and losses is expected to be approximately 985 million yuan in 2025, representing a year-on-year reduction in losses of about 23.64%.

After further adjusting for the impact of share-based payments, the net loss attributable to owners of the parent company, excluding non-recurring gains and losses, is anticipated to be around 911 million yuan for 2025, a year-on-year decrease in losses of approximately 29.37%.

During the reporting period, the growth in the company's operating revenue was primarily driven by an increase in sales revenue from commercialized drugs compared to the same period last year.

The domestic market sales revenue of the company's core product, toripalimab injection (brand name: Tuoyi®), experienced substantial year-on-year growth during the reporting period.

As of the date of this announcement, all 12 indications for which Tuoyi® has been approved for marketing in mainland China have been included in the National Reimbursement Drug List (NRDL), making it the only anti-PD-1 monoclonal antibody drug in the list indicated for the treatment of renal cell carcinoma, triple-negative breast cancer, and melanoma.

The company has also continued to expand its global commercial network; as of the date of this announcement, toripalimab has been approved for marketing in over 40 countries and regions, including mainland China, Hong Kong (China), the United States, the European Union, India, the United Kingdom, Jordan, Australia, Singapore, the UAE, Kuwait, Pakistan, Canada, and Bahrain, and is undergoing marketing reviews in numerous other countries and regions worldwide.

Although Junshi Bio still reported a net loss attributable to owners of the parent company for the full year 2025, the loss amount narrowed significantly compared to the same period last year, mainly attributable to the company's continuous implementation of its "Enhancing Quality, Efficiency, and Returns" action plan, which led to a notable improvement in commercialization capabilities alongside strengthened expense control and resource focus.

During the reporting period, while controlling expenses, the company maintained efficient advancement of its core pipeline, rapidly progressing clinical trials for several innovative drugs with international market competitiveness, such as the PD-1/VEGF bispecific antibody (code: JS207), the EGFR/HER3 ADC (code: JS212), and the PD-1/IL-2 fusion protein (code: JS213), while actively exploring various combination regimens to maximize pipeline synergies.

Among these, JS207 has currently entered Phase II clinical studies and is undergoing exploration in combination with various agents, including chemotherapy, monoclonal antibodies, and ADCs, across multiple tumor types; a Phase II clinical trial for the combination of JS207 and JS212 is currently underway.

The company will accelerate the research and development of its pipeline to expedite the progression of more promising products and indications into the registration clinical trial stage as soon as possible.