LAEKNA-B is expected to achieve revenues of approximately 107 million yuan in 2025, with a year-on-year increase in research and development expenses of 16.17%.

LAEKNA-B (02105) announced its performance in 2025, achieving revenue of approximately 107 million yuan, gross profit of 86.419 million yuan, research and development expenses of approximately 250 million yuan, a year-on-year increase of 16.17%; a net loss of approximately 229 million yuan, a year-on-year narrowing of 9.82%. The announcement stated that the revenue in 2025 came from the external licensing transaction of LAE002 (afuresertib) with Qilu Pharmaceutical. The increase in research and development expenses was mainly due to the increase in costs related to the ActRII product portfolio (including LAE102, LAE103, and LAE123), and the increase in payment expenses for stock payments settled in equity. As of December 31, 2025, the company has initiated seven clinical trials for LAE102, LAE103, LAE002 (afuresertib), LAE001, and LAE005 to address unmet medical needs in the areas of obesity and cancer.