BIOKIN PHARMACEUTICAL(688506)2024-10-30 10:14Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of 5.663 billion CNY, a year-on-year increase of 1,399.22% [5] - The net profit attributable to shareholders was 4.065 billion CNY, with a net profit of 4.043 billion CNY after deducting non-recurring gains and losses [5] - The significant revenue growth was primarily due to an irrevocable and non-deductible upfront payment of 800 million USD received from BMS under the BL-B01D1 cooperation agreement [5] Research and Development - R&D investment for the first three quarters of 2024 was 932 million CNY, an increase of 422 million CNY or 80.34% compared to 510 million CNY in the same period of 2023 [6] - The company is conducting 7 Phase III registration clinical trials for BL-B01D1, covering multiple indications including non-small cell lung cancer and esophageal squamous cell carcinoma [8] Collaboration with BMS - In addition to the upfront payment, BMS may pay up to 500 million USD for recent or contingent payments, and up to 7.1 billion USD in milestone payments upon achieving development, registration, and sales milestones [6] - The company has 5 projects approved by the FDA for clinical research in the U.S., including BL-B01D1 and BL-M11D1 [9] Clinical Trial Progress - As of October 2024, BL-B01D1 has been included in the breakthrough therapy designation list for several indications, enhancing its development priority [8] - The GNC platform has developed 4 innovative multi-specific antibody drugs currently in clinical stages, with GNC-038 and GNC-035 undergoing Phase Ib/II clinical studies [10] IPO Progress - The company's Hong Kong IPO project is currently in progress, with further details to be disclosed in future announcements [10]