Jacobio Pharmaceuticals Group Co., Ltd. (JACOBIO-B) reported a sharp turnaround for the six months ended 30 June 2026, driven by a sizeable upfront payment from AstraZeneca AB and accelerating license royalties.
Revenue jumped to RMB 730.87 million, up 1,499.3% from RMB 45.66 million a year earlier. The surge reflects (1) a USD 100 million (about RMB 703 million) upfront fee and R&D reimbursements from AstraZeneca tied to the global pan-KRAS inhibitor JAB-23E73 collaboration, and (2) royalties and service income from Shanghai Allist Pharmaceuticals related to KRAS G12C inhibitor glecirasib (艾瑞凱®) and SHP2 inhibitor sitneprotafib.
The company recorded a net profit of RMB 600.62 million, reversing a RMB 58.99 million loss in the prior-year period. Gross profit reached RMB 712.71 million (1H 2025: RMB 45.66 million).
Operating costs remained tightly controlled: • R&D expense edged down 1.1% year-on-year to RMB 92.17 million despite ongoing clinical programs. • Administrative expense was flat at RMB 18.65 million. • Net finance income rose to RMB 11.97 million on higher deposit interest and lower borrowing costs.
Cash and bank balances, including structured deposits, increased to RMB 1.68 billion from RMB 1.13 billion at end-2025. The group held net cash; borrowings totaled RMB 93.97 million.
Pipeline momentum continued: • Phase III enrollment is under way in China for glecirasib plus sitneprotafib in first-line KRAS G12C NSCLC after the 2025 approval of glecirasib monotherapy in second-line NSCLC. • JAB-23E73 completed China Phase I dose escalation with no dose-limiting toxicities reported; a Phase Ib/III combo trial in first-line pancreatic cancer began in July 2026. • Early-stage assets include p53 Y220C reactivator JAB-30355, BET inhibitor JAB-8263 (now in a Phase IIa rheumatoid arthritis study), Aurora A inhibitor JAB-2485, and multiple ADC programs targeting KRAS and STING pathways.
During the period, JACOBIO-B repurchased 3.98 million shares for HK$23.68 million (about RMB 20.82 million), increasing treasury shares to 8.67 million. No interim dividend was declared.
Management highlighted upcoming milestones: expanded data from JAB-23E73 in 2027 and continued progress toward registrational trials across the KRAS and ADC portfolios.