① H1 Kangle Wushi's revenue declined year-on-year while still in a loss state, and it is expected that the future loss state will continue. ② Currently, Kangle Wushi's three-valent HPV vaccine has the fastest research and development progress and may become the company's first commercial product.
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Finance Associated Press, August 29th (Reporter He Fan) Due to the absence of vaccine products on the market for sales and the continuous increase in research and development costs, H1 Kangle Wushi (833575.BJ) revenue has declined year-on-year while still in a loss state, and it is expected that it will continue to incur losses in the future. Currently, Kangle Wushi's three-valent HPV vaccine has the fastest research and development progress and may become the company's first commercial product.
Tonight, Kangle Wushi disclosed half-yearly report. The company achieved operating revenue of 0.3729 million yuan in H1, a decrease of 55.55% year-on-year; the net income attributable to shareholders of the listed company was -0.185 billion yuan, and the loss state continues.
As of the end of the reporting period, Kangle Wushi has no vaccine products on the market for sales and there is accumulated unrepaired losses. The company stated that in the future period, the company is expected to continue to increase research and development investment and remain in a continual loss state, so there will still be accumulated unrepaired losses. The company expects to continue to incur losses from January to September of this year.
From the perspective of the business situation, Kangle Wushi invested 0.136 billion yuan in research and development expenses in H1, an increase of 30.01% year-on-year. The company stated that the increase was mainly due to the increased clinical serum testing costs of the company's nine-valent HPV vaccine (for female indications) in this period.
Currently, Kangle Wushi's three-valent HPV vaccine has the fastest progress in the research pipeline. On August 13th, the company announced that the Phase III clinical trial analysis of its three-valent HPV vaccine protection efficacy has been unblinded, and the results are as expected. This means that the three-valent HPV vaccine may become Kangle Wushi's first commercial product.
At that time, Kangle Wushi told the Finance Associated Press reporter that the positive progress made in the three-valent HPV vaccine this time is also expected to accelerate the listing speed of the company's nine-valent HPV vaccine.
Currently, the Kang Le Wei Shi HPV9-valent vaccine (for female indication) and the HPV9-valent vaccine (for male indication) are both in Phase III clinical trials, while the 15-valent HPV vaccine entered Phase I clinical trials in March of this year. In addition to the HPV vaccines, Kang Le Wei Shi's research and development pipeline also includes RSV vaccine, herpes zoster vaccine, norovirus vaccine, etc., but all of these projects are in the preclinical research stage.
On July 10, Kang Le Wei Shi announced that its application for listing on the Hong Kong Stock Exchange has been officially accepted by the China Securities Regulatory Commission, with plans to issue no more than 0.108 billion H shares.