GenFleet Therapeutics (GENFLEET-B) reported a markedly narrower interim loss for the six months ended 30 June 2026, driven by a one-off fair-value item in the prior-year base and higher interest income, despite stepped-up R&D spending and lower licensing revenue.

Revenue fell 52.1% year-on-year to RMB 42.47 million. Licensing income declined by RMB 71.17 million, partially offset by a six-fold surge in drug-supply revenue to RMB 30.60 million, underscoring growing clinical-trial demand for the company’s pipeline assets.

Total operating costs rose to RMB 239.81 million. R&D expenses jumped 57.3% to RMB 192.53 million as multiple assets advanced into mid- to late-stage development. Administrative costs decreased 26.1% to RMB 27.30 million following completion of the 2025 IPO.

Other income and gains reached RMB 40.62 million, mainly reflecting higher interest on time deposits. Other expenses and losses expanded to RMB 61.18 million, dominated by a RMB 56.59 million foreign-exchange loss amid renminbi volatility.

The group recorded an operating loss of RMB 220.17 million versus RMB 698.60 million a year earlier, when results were hit by a RMB 615.87 million fair-value charge on redemption liabilities. Basic loss per share narrowed to RMB 0.59.

GenFleet ended the period with cash and bank balances of RMB 1.78 billion, down from RMB 2.07 billion at end-2025 after operating outflows of RMB 283.68 million and net investments in time deposits. Interest-bearing bank debt stood at RMB 124.45 million; the gearing ratio was little changed at 17.2%.

No interim dividend was declared.

Post-period, the company raised gross proceeds of HKD 471.80 million (net HKD 466.90 million) via a placing of 13.60 million new H shares on 17 July 2026 to bolster ongoing clinical programmes and platform expansion.

Management expects six registrational studies to be under way by 2027, led by oral KRAS G12D inhibitor GFH375 and pan-RAS inhibitor GFH276, while maintaining a disciplined cash position to support pipeline progression.