Mabpharm Limited released its 2026 interim results, posting revenue of RMB 397.94 million for the six months ended 30 June 2026, a 45.1% increase from the same period in 2025. The stronger top line lifted gross profit to RMB 361.56 million, with gross margin advancing to 90.9%.

Net profit attributable to shareholders reached RMB 31.36 million, up 982.1% from RMB 2.90 million in the prior-year period, marking a return to solid profitability. Basic and diluted earnings per share were both RMB 0.01.

Sales momentum was led by the company’s three commercialised monoclonal antibody therapies. CMAB009 (Enlituo) delivered an 89.7% year-on-year volume increase after broader hospital coverage and inclusion in China’s national reimbursement list. CMAB008 (Laiting) posted a 47.7% volume rise, supported by expanded provincial tender listings and over 1,000 brand-building activities. CMAB007 (Omaishu) benefited from continued reimbursement coverage and wider market penetration.

Mabpharm secured two additional product approvals in June 2026: CMAB807 (Puboli) for osteoporosis and CMAB807X (Leishu) for bone metastasis and giant-cell tumour of bone. The firm plans to file a new-drug application for CMAB015 (secukinumab biosimilar) in the third quarter of 2026 and targets first-quarter 2028 approval. The pipeline now comprises nine monoclonal antibodies and one “strong antibody” candidate, with CMAB017 already in Phase I trials for advanced solid tumours.

Operating costs reflected the scaling commercial platform. Selling and distribution expenses rose 55.8% to RMB 254.40 million, driven by academic promotion and hospital access initiatives. Research and development spending edged up 8.9% to RMB 25.94 million, while administrative expenses fell 12.1% to RMB 45.15 million. Finance costs were stable at RMB 5.33 million.

At 30 June 2026, Mabpharm’s cash and bank balances stood at RMB 93.33 million. Net assets increased 23.3% since year-end 2025 to RMB 193.84 million, although the company reported net current liabilities of RMB 81.80 million. Total interest-bearing debt was RMB 255.42 million, resulting in a gearing ratio of 83.4%.

Management highlighted ongoing capacity expansion in Taizhou, where the aggregate bioreactor volume has reached 40,000 litres, with further lines under construction. The company is also advancing overseas registrations, having gained GMP certification in Brazil and marketing approvals for CMAB008 in six countries, while preparing its first IND filing for Europe and the United States in 2026.