Antengene (6996) investor relations material

Executive summary

• Revenue surged to RMB513.1 million for H1 2026, up from RMB53.2 million year-over-year, mainly due to licensing and collaboration deals for ATG-201 and ATG-106.

• Achieved first-ever profitability in H1 2026, with net profit reaching RMB216.3 million, reversing prior losses, driven by strategic licensing partnerships and robust pipeline advancement.

• Major licensing deals with UCB and K2 Therapeutics for next-generation TCE programs contributed significant upfront and milestone payments.

• R&D costs increased to RMB122.9 million, reflecting expanded drug development activities.

• Pipeline advanced with new clinical and preclinical programs, including pivotal Phase III for ATG-022 and IND approval for ATG-201.

Financial highlights

• H1 2026 adjusted profit reached RMB284.7 million, reversing prior losses.

• Total revenue for H1 2026 was RMB513.1 million, with licensing revenue as the main driver.

• Licensing and collaboration revenue contributed RMB457.8 million, with product sales at RMB55.2 million.

• Cash and bank balances stood at RMB764.9 million as of June 30, 2026, with additional inflows of RMB195 million in July and US$20 million in near-term milestone payments.

• Selling and distribution expenses decreased to RMB35.2 million, and administrative expenses fell to RMB35.9 million year-over-year.

Outlook and guidance

• Multiple revenue streams from new and existing business development deals expected to sustain profitability beyond 2026.

• Focus remains on accelerating development of high-potential clinical assets, especially ATG-022 and ATG-037.

• Continued expansion of XPOVIO® market penetration and reimbursement access in APAC.

• Continued investment in next-generation platforms and pipeline to drive future growth.

• No interim dividend declared for H1 2026.