Kaifatu Pharmaceutical - B announced the unaudited interim performance for the six months ended June 30, 2024. Compared with the same period last year, the net loss decreased from RMB 212.1 million to RMB 71.5 million, a decrease of 66.3%. This decrease is mainly due to a reduction in research and development costs and administrative expenses. Research and development costs decreased from RMB 164.6 million to RMB 39.3 million, a decrease of 76.1%, mainly due to the group's increased focus on core dermatology pipeline investment, while investment in the oncology pipeline decreased significantly. Administrative expenses decreased from RMB 51.2 million to RMB 33.9 million, a decrease of 33.8%, mainly due to a reduction in employee benefits and equity-based compensation expenses. The company has cash and cash equivalents as well as...Show More

Kaifatu Pharmaceutical - B announced the unaudited interim performance for the six months ended June 30, 2024. Compared with the same period last year, the net loss decreased from RMB 212.1 million to RMB 71.5 million, a decrease of 66.3%. This decrease is mainly due to a reduction in research and development costs and administrative expenses. Research and development costs decreased from RMB 164.6 million to RMB 39.3 million, a decrease of 76.1%, mainly due to the group's increased focus on core dermatology pipeline investment, while investment in the oncology pipeline decreased significantly. Administrative expenses decreased from RMB 51.2 million to RMB 33.9 million, a decrease of 33.8%, mainly due to a reduction in employee benefits and equity-based compensation expenses. The company has cash and cash equivalents as well as time deposits totaling RMB 333.7 million, and there is unused bank finance of RMB 80.0 million, indicating sufficient funds. The board of directors has decided not to pay any mid-term dividends. In terms of business, the company has six potential first-in-class/best-in-class investigational drugs in phase I-III clinical stages, and is rapidly advancing various clinical trials worldwide. Among them, the Ib/III-phase clinical trial of KX-826 and minoxidil for the treatment of adult male hair loss has been approved by the National Medical Products Administration, and the China Phase II clinical trial of GT20029 for the treatment of hair loss has achieved the primary endpoint and demonstrated good safety and tolerability. The company has officially launched a topical hair loss prevention solution for hair loss, which is the first product of the new high-end cosmetic brand KOSHINÉ.