AKESO (09926) released its annual performance, with revenue increasing by 43.9% year-on-year to 3.056 billion yuan.

AKESO (09926) announced its annual performance for the year ending December 31, 2025. The group achieved a revenue of 3.056 billion Chinese Yuan (same unit below), an increase of 43.9% compared to the previous year; gross profit was 2.404 billion Yuan, an increase of 31.01%; research and development expenses were 1.575 billion Yuan, an increase of 32.61%; with a net loss of 1.141 billion Yuan, resulting in a loss per share of 1.23 Yuan. As a leading global bispecific antibody company, AKESO continued to make significant investment progress in world-class research and development in 2025, while narrowing the Non-IFRS annual EBITDA compared to 2024, improving its financial performance. In addition to advancing multiple Phase III clinical studies in 2025, the company also pushed various novel bispecific antibodies into clinical research, including ADCs, immune-related diseases, and central nervous system diseases. Thanks to the company's two globally pioneering bispecific antibodies, Kadunilmonab and Ivosicinab, both products were included in the National Reimbursement Drug List (NRDL) for the first time. During this reporting period, the medical insurance indications were as follows: Kadunilmonab injection for the treatment of recurrent or metastatic cervical cancer that has failed platinum-based chemotherapy, and Ivosicinab injection for the treatment of locally advanced or metastatic non-squamous NSCLC with EGFR mutations that have progressed after EGFR-TKI treatment. The company's revenue in 2025 increased by 43.9% compared to 2024, from 2.124 billion Yuan to 3.056 billion Yuan in 2025. The commercialization of new products has also started to contribute to revenue growth. The company's operational efficiency continued to improve in 2025. Key operating expense indicators, including sales and marketing expense ratio, research and development expense ratio, and management expense ratio, all decreased compared to 2024.