China Antibody-B (03681) announced its annual results for the year ended December 31, 2023, and the group achieved revenue...
According to the Zhitong Finance App, China Antibody-B (03681) announced the results for the year ended December 31, 2023. The group obtained revenue of RMB 1.365 million (same unit), with zero revenue for the same period last year; research and development costs of RMB 135 million, a year-on-year decrease of 24.93%; loss of RMB 243 million during the year, a year-on-year reduction of 14.45%; and a loss of 0.24 yuan per share.
In 2023, all of the company's businesses achieved the expected performance, and made major breakthroughs in pharmaceutical research and development. The company's flagship product SM03 (Suciraslimab) is the world's first anti-CD22 monoclonal antibody drug to treat RA, and its commercialization process is progressing at full speed. During the year, the company actively carried out clinical trial site inspections and GMP tests at the Haikou production base. These tests are necessary inspection procedures for the China National Drug Administration's BLA. Currently, two tests have been completed in January 2024. Meanwhile, the company is continuing clinical research on Suciraslimab in other immune diseases, with the aim of further expanding Suciraslimab's potential treatment areas, including Alzheimer's disease and Sjogren's syndrome (SS), to meet unfilled medical needs and explore the potential for subsequent commercialization of the product.
Losses decreased by 41.1 million yuan during the year, from 284 million yuan for the year ended 31 December 2022 to 243 million yuan for the year ended 31 December 2023, mainly due to the completion of phase III clinical research on SM03, which reduced research and development costs by about 45 million yuan.