Junshi Biosciences

Junshi Biosciences Announces 2025 Interim Financial Results and Provides Corporate Updates

SHANGHAI, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Shanghai Junshi Biosciences Co., Ltd (“Junshi Biosciences,” HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced its 2025 interim financial results and provided corporate updates.

FINANCIAL HIGHLIGHTS

• As of June 30, 2025, the total revenue of Junshi Biosciences was approximately RMB1,168 million for the first half of 2025, representing an increase of approximately 49% compared to 2024, driven mainly by pharmaceutical sales. In particular, the domestic sales revenue of our core product, TUOYI^® (toripalimab), reached approximately RMB954 million, an increase of approximately 42% from 2024.
• Total research and development (“R&D”) expenses of the company were approximately RMB745 million for the first half of 2025, an approximately 36% increase compared to 2024. The higher R&D expenses were mainly due to the company’s focus on more competitive and innovative R&D pipelines and accelerated clinical development during the first half of 2024.
• Loss attributable to owners of the company fell to RMB413 million, representing a decrease of approximately RMB232 million or approximately 36% compared to 2024.
• During the first half of 2025, net cash inflow from financing activities was approximately RMB1,386 million, primarily attributable to the successful placement of the company’s new H shares on June 20, 2025, which generated a net inflow of approximately RMB940 million. This net cash inflow fully offset the cash outflows from operating and investing activities, leading to an overall increase in bank balances and cash.
• As of June 30, 2025, the aggregate balance of bank balances and cash and financial products of the company was approximately RMB3,490 million, ensuring a relatively stable liquidity position to support the company’s continued development.
  

BUSINESS HIGHLIGHTS

During the first half of 2025, we focused on addressing “unmet medical needs”. We have made original, innovative and breakthrough progress in the discovery, R&D and commercialization of innovative therapies and novel drugs with accelerating international development. The following are achievements and milestones we have reached:

• Advancements in the pipeline: the company’s innovative R&D field has expanded from monoclonal antibodies to the research and development of various drug modalities, including small molecules drugs, antibody drug conjugates (“ADC”), bi-specific or multi-specific antibodies, fusion protein, nucleic acid drugs and vaccines, as well as the exploration of next-generation innovative therapies including cancer and autoimmune diseases. The product pipelines cover five major therapeutic areas including malignant tumors, autoimmune diseases, chronic metabolic diseases, neurologic diseases and infectious diseases. A total of four drugs (TUOYI^®, JUNMAIKANG, MINDEWEI and JUNSHIDA) have been commercialized, around 30 assets are undergoing clinical trials, and over 20 drug candidates are in preclinical drug development.
  
  • In January 2025, the indication of TUOYI^® for the treatment of unresectable or metastatic melanoma after failure of standard systemic therapy was approved by the National Medical Products Administration of China (the “NMPA”) for conversion from conditional approval to regular approval.
    
  • In January 2025, the investigational new drug (“IND”) application for JS212 (a recombinant humanized epidermal growth factor receptor (“EGFR”) and human epidermal growth factor receptor 3 [“HER3”] bispecific ADC) was accepted by the NMPA and subsequently approved in March 2025.
  • In January 2025, the indication of MINDEWEI for the treatment of adult patients with mild to moderate coronavirus disease 2019 (“COVID-19”) was approved by the NMPA for conversion from conditional approval to regular approval.
  • In January 2025, the New Chemical Entity (“NCE”) application for 1) toripalimab in combination with cisplatin and gemcitabine, for the first-line treatment of adults with metastatic or recurrent, locally advanced nasopharyngeal carcinoma (“NPC”) and 2) toripalimab, as a single agent, for the treatment of adults with recurrent unresectable or metastatic NPC with disease progression on or after platinum-containing chemotherapy was approved by the Therapeutic Goods Administration of the Australian Government Department of Health and Aged Care (the “TGA”). Toripalimab became the first immuno-oncology treatment for NPC in Australia.
  • In February 2025, the IND application for JS213 (a PD-1 and interleukin-2 (“IL-2”) bifunctional antibody fusion protein) was approved by the NMPA.
  • In March 2025, the supplemental new drug application (the “sNDA”) for TUOYI^® in combination with bevacizumab for the first-line treatment for patients with unresectable or metastatic hepatocellular carcinoma (“HCC”) was approved by the NMPA.
  • In March 2025, the new drug application (the “NDA”) for toripalimab in combination with cisplatin and gemcitabine for the first-line treatment of adult patients with recurrent, not amenable to surgery or radiotherapy, or metastatic NPC was approved by the Singapore Health Sciences Authority (the “HSA”). Toripalimab became the first approved immuno-oncology treatment for NPC in Singapore.
  • In April 2025, the sNDA for TUOYI^® for the first-line treatment of unresectable or metastatic melanoma was approved by the NMPA. This was toripalimab’s 12th indication in the Chinese Mainland.
  • In May 2025, the two sNDAs for the ongericimab injection (a recombinant humanized anti-PCSK9 monoclonal antibody injection, trade name: JUNSHIDA) for: 1) adult patients with heterozygous familial hypercholesterolemia (“HeFH”); 2) alone or in combination with ezetimibe, in adult patients with non-familial hypercholesterolemia and mixed dyslipidemia who are statin-intolerant or statins contraindicated, were approved by the NMPA. Ongericimab became the first domestic PCSK9-targeted drug approved for statin-intolerant patients.
  • In June 2025, the IND application for the JT118 injection (“JT118”) was accepted. JT118 is a “two-in-one” recombinant protein vaccine composed of a tandem fusion of monkeypox virus antigens A35 (an extracellular enveloped virus antigen) and M1 (an intracellular mature virus antigen), and is intended mainly for the prevention of monkeypox virus infection.
  • In June 2025, the indications of toripalimab for the first-line treatment of NPC and the first-line treatment of esophageal squamous cell carcinoma (“ESCC”) were officially approved for marketing in the United Arab Emirates (the “UAE”) and Kuwait.
    
• External collaborations
  • In January 2025, TopAlliance Biosciences, a wholly-owned subsidiary of the company, entered into a distribution and marketing agreement with LEO Pharma. TopAlliance Biosciences will grant LEO Pharma the exclusive right to store, distribute, promote, market and sell toripalimab in all current member states and any future member states of the European Union (the “EU”) and the European Economic Area (the “EEA”), Switzerland as well as the United Kingdom (the “UK”) (the “Territory”). LEO Pharma shall pay TopAlliance Biosciences an upfront payment of EUR15 million, milestone payment(s) for any subsequent approved indication(s) for toripalimab in the Territory, and a revenue share of a double-digit percentage on the net sales of toripalimab throughout the Territory.
• Business operations
  • In June 2025, the company convened the 2024 annual general meeting, at which all resolutions were considered and approved.
  • In June 2025, the company completed the placing of new H shares under general mandate (the “Placing”), pursuant to which an aggregate of 41,000,000 H shares (the “Placing Shares”) were successfully allotted and issued at HK$25.35 per H share. The net proceeds (after deduction of commissions and estimated expenses) amounted to approximately HK$1,026 million, which will be used for innovative drug development and general corporate purposes such as replenishment of working capital.
    

About Junshi Biosciences

Founded in December 2012, Junshi Biosciences (HKEX: 1877; SSE: 688180) is an innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapeutics. The company has established a diversified R&D pipeline comprising over 50 drug candidates, with five therapeutic focus areas covering cancer, autoimmune, metabolic, neurological, and infectious diseases. Five of the company’s products have received approvals in China and international markets, one of which is toripalimab, China’s first domestically produced and independently developed anti-PD-1 monoclonal antibody. Toripalimab has been approved in 40 countries and regions including China, the US, and Europe. During the COVID-19 pandemic, Junshi Biosciences actively shouldered the social responsibilities of a Chinese pharmaceutical company through its involvement in developing etesevimab, MINDEWEI^®, and other novel therapies for the prevention and treatment of COVID-19.

With a mission of “providing patients with world-class, trustworthy, affordable, and innovative drugs,” Junshi Biosciences is “In China, For Global.” At present, the company boasts approximately 2,500 employees in the United States (Maryland) and China (Shanghai, Suzhou, Beijing, Guangzhou, etc.). For more information, please visit: http://www.junshipharma.com.

Junshi Biosciences Contact Information
IR Team:
Junshi Biosciences
info@junshipharma.com
+ 86 021-6105 8800

PR Team:
Junshi Biosciences
Zhi Li
zhi_li@junshipharma.com
+ 86 021-6105 8800