MABWELL-B (02493) has announced its interim results for 2026, reporting revenue of approximately RMB 312 million, a year-on-year surge of 209.06%. Gross profit reached roughly RMB 236 million, up 198.67% from the prior corresponding period.

Research and development costs stood at approximately RMB 431 million, representing a year-on-year increase of about 10%. The loss attributable to owners of the parent company narrowed by 5.37% to approximately RMB 522 million.

The company attributed the revenue increase primarily to higher out-licensing income from Kalexo and Disc, alongside stronger sales revenue from the pharmaceutical product 君迈康® (Junmaikang).

Innovation-driven R&D remains the core strategic focus, anchored by a full-cycle innovation system that begins with antibody drug target validation and molecular discovery. The company operates three proprietary technology platforms: an antibody-drug conjugate (ADC) development platform, an integrated high-efficiency antibody discovery platform, and a TCE bispecific/trispecific antibody development platform.

MABWELL-B currently has 15 key drug candidates in clinical research or on the market, including 11 innovative drugs and 4 biosimilars. These programmes target oncology and age-related diseases across areas such as immunology, ophthalmology, and orthopaedics. Of these, 4 products have been launched, 1 is under review for a domestic manufacturing drug registration application, 2 are in Phase III pivotal registration trials, and the remainder are at various other clinical stages.

The core product candidate, 9MW2821, has advanced into the pivotal clinical stage and has secured multiple Breakthrough Therapy Designations (BTDs). Four Phase III pivotal registration studies are currently underway. Among them, the Phase III trials for urothelial cancer (UC) as monotherapy and in combination therapy, as well as for cervical cancer (CC) as monotherapy, are scheduled for interim analyses in 2026. The company plans to use these results to file for pre-New Drug Application (NDA) meetings.

In addition, the Phase III trial for triple-negative breast cancer (TNBC) in patients previously treated with topoisomerase inhibitor-based ADCs, along with a US Phase Ib study, is also progressing steadily.

Looking ahead, MABWELL-B intends to accelerate the clinical trial timelines for its core products. The company's proprietary Nectin-4-targeting ADC, 9MW2821, currently holds the leading clinical position in China and ranks second globally. It is also the world's first same-target drug to advance to a Phase III registration trial for cervical cancer. The three core indications—urothelial cancer as monotherapy, in combination with immunotherapy, and cervical cancer—are now in the critical phase of Phase III development.

The company will continue to allocate R&D resources efficiently to advance clinical studies and prepare for regulatory submissions. Plans are in place to complete the Phase III interim analyses within 2026 and subsequently initiate communications for marketing application submissions, with the goal of bringing this innovative therapy, which offers differentiated efficacy and safety advantages, to a broad population of solid tumour patients in China as soon as possible.