JW THERAP-B reported interim revenue of RMB111.35 million for the six months ended 30 June 2026, up 4.7 % year-on-year, driven by a 36.9 % sales increase of its CAR-T product Carteyva® to RMB111.24 million.
\n\nGross profit reached RMB57.71 million; product-level gross margin edged up to 51.8 % from 51.1 % a year earlier, supported by streamlined production, localisation of key equipment and tighter cost control.
\n\nThe period’s net loss narrowed to RMB50.43 million from RMB267.27 million, aided by the absence of RMB152.60 million licence impairment booked last year, RMB41.77 million net foreign-exchange gains and a 45.9 % reduction in R&D expenses to RMB49.82 million after receiving RMB32.00 million cost reimbursements from Regeneron.
\n\nSelling expenses were RMB68.84 million, equal to 61.9 % of product revenue versus 72.0 % a year earlier, reflecting improved commercial efficiency. General and administrative expenses were flat at RMB32.05 million.
\n\nAdjusted loss (excluding share-based compensation, licence impairment and FX effects) fell 11.8 % to RMB91.12 million.
\n\nCash and bank balances stood at RMB392.09 million; net cash outflow for the half-year was RMB111.0 million, broadly unchanged year-on-year. Total borrowings were RMB227.69 million, of which RMB180.69 million is due within 12 months.
\n\nOperationally, Carteyva® received full NMPA approval for third-line large B-cell lymphoma and passed administrative review for potential inclusion in the 2026 National Reimbursement Drug List. Patient enrolment completed for the second-line LBCL trial, and regulatory review is ongoing. Manufacturing first-pass success remains at 100 % since 2025; an application for in-house lentiviral vector use has been accepted by regulators.
\n\nThe pipeline advanced with ongoing trials for dual-target CAR-T candidates JWCAR201 and JWCAR239, a Phase I study of relma-cel in systemic lupus erythematosus, and continued collaboration with Regeneron on MAGE-A4 TCR-T therapy JWTCR001.
\n\nThe company expects over the next 12 months to focus on sustained Carteyva® sales growth, potential reimbursement listing, approval of extended T-cell cryopreservation and in-house vector production, and further clinical data from JWCAR239 and in-vivo CAR-T research.