Wuhan-based biotech firm YZYBIO-B (YZY Biopharma) published its unaudited interim results for the six months ended 30 June 2026, highlighting a markedly reduced net loss and continued progress across its bispecific antibody pipeline.

Financial Performance • Revenue slipped 10.9 % year on year to RMB 33.14 million (USD 4.6 million), but gross profit quadrupled to RMB 25.26 million as cost of revenue dropped 73.3 % to RMB 7.89 million. • R&D expenditure fell 70.8 % to RMB 17.58 million, mainly due to a RMB 36.14 million cut in third-party technical service fees and lower raw-material costs. • Administrative costs remained broadly flat at RMB 13.41 million. • Finance costs eased to RMB 2.08 million. • Result: loss for the period narrowed sharply to RMB 6.26 million from RMB 58.83 million a year earlier.

Revenue Mix • Licence fee income surged to RMB 24.23 million (73 % of total) on milestone revenue from the 2024 licensing deal with CT Tianqing for core asset M701. • R&D service income contracted to RMB 8.92 million as project phasing reduced billable activity.

Cash & Balance Sheet • Cash and equivalents declined to RMB 76.00 million from RMB 100.07 million at end-2025, reflecting operating outflows of RMB 26.60 million and capex of RMB 5.40 million. • Bank borrowings increased to RMB 138.62 million; unutilised credit lines total RMB 191.40 million. • Net liabilities widened slightly to RMB 58.56 million, with net current liabilities at RMB 104.99 million. • No interim dividend declared.

Pipeline Milestones • M701 (EpCAM/CD3 BsAb): – NDA for malignant ascites accepted by China’s NMPA in May 2026; Phase III data showed positive safety and efficacy, featured at ASCO 2026. – IND for malignant pleural effusion approved by the US FDA; Phase Ib/II enrolling 92 NSCLC patients. – Domestic commercial rights licensed to CT Tianqing; YZYBIO retains ex-China rights.

• Y332 (VEGF/TGF-β BsAb) entered Phase II for solid tumours.

• Y400 (VEGF/ANG2 BsAb for ophthalmology) rights for US/EU/JP transferred to Shenzhen Kangzhe Vision and CMS R&D; Phase II in China under way.

• Y225 (Emicizumab biosimilar) received IND approval; Phase I enrolment targeted by end-2026.

• Y232 (anti-TL1A) and Y180 (LAG-3-Fc) remain in pre-clinical development.

Outlook Management will focus on securing M701’s China approval, advancing overseas development, completing Y225 Phase I enrolment, and progressing earlier-stage assets toward the clinic in H2 2026.

Governance & Other • The company operates a 1,400 m² pilot plant and utilises external CDMOs for larger-scale production. • Headcount stood at 68 employees. • Audit Committee reviewed and approved the interim financials; no material subsequent events or contingent liabilities were reported.

YZYBIO-B’s sharper cost discipline and milestone inflows have significantly reduced interim losses, while regulatory momentum for lead asset M701 underpins the company’s strategic focus on commercialisation and external partnerships.