HJ Science reported interim revenue of RMB 1.94 million for the six months to 30 June 2026, more than doubling the RMB 0.89 million recorded a year earlier, on higher milestone recognition from its out-licensing deal for FGFR4 inhibitor HJ197.
Research and development spending rose 13.1% year on year to RMB 46.26 million, reflecting continued clinical progress across three core programmes—TYK2 inhibitor HJ787, GLP-1/GIP modulator HJ178 and KRAS G12C inhibitor HJ891.
The company remained loss-making, with the period loss expanding 38.8% to RMB 73.48 million, driven by a RMB 26.17 million non-cash share-based payment linked to a pre-IPO incentive scheme. Excluding this charge, adjusted loss narrowed 10.7% to RMB 47.30 million.
Following its Hong Kong listing on 23 June 2026, HJ Science’s cash and cash equivalents jumped from RMB 3.72 million at end-2025 to RMB 1.11 billion, while financial assets at fair value dropped to RMB 151.20 million after redemptions of wealth-management products. Net proceeds of HK$1.03 billion (about RMB 0.97 billion) from the offering boosted the share premium to RMB 1.33 billion, taking total equity to RMB 1.21 billion.
Operating cash outflow was largely stable at RMB 53.78 million, with higher R&D staff costs offset by lower material expenses as several projects passed peak procurement. Administrative expenses more than doubled to RMB 20.96 million on increased depreciation and share-based costs. The group drew a new RMB 10.00 million bank loan, lifting short-term borrowings to RMB 20.02 million; gearing remained negligible given the enlarged cash position.
Clinical pipeline advancement included completion of Phase II enrolment for topical HJ787 in atopic dermatitis, steady progress in HJ178’s Phase II diabetes trial, and full enrolment in the pivotal Phase IIb study of HJ891 in second-line KRAS G12C-mutated NSCLC. IND applications for Lp(a) inhibitor HJ356 were accepted in both China and the United States.
Management intends to prioritise funding for late-stage trials of HJ787, HJ178 and HJ891, while continuing to invest in preclinical assets such as pan-RAS inhibitor HJ199 and KRAS G12V molecular glue HJ198.
No interim dividend was declared.