Antengene Corporation Limited (SEHK: 6996.HK) proudly released its financial results for the full year of 2022 and shared its remarkable accomplishments since the start of the year. Highlights include a host of key events that have enabled Antengene to remain a leader in the healthcare industry.
1. Sales Revenue Reached 5.6 Times Year-Over-Year while the Adjusted Loss Narrowed by 10.3%
In 2022, Antengene’s first commercialized product, XPOVIO® (selinexor), made history as the world’s first oral XPO1 inhibitor leveraging a novel mechanism of action. It generated a total of RMB160 million in revenue, a staggering 5.6 times increase from the year before when it was first launched in Mainland of China on May 13, 2022.
The strong revenue growth in 2022 resulted in an impressive 10.3% narrowing of the adjusted loss, indicating a successful year for the company.
2. First/Best-in-Class Potential Clinical Programs as Value Drivers for Future Growth of Antengene
Antengene is advancing an impressive array of nine oncology programs, ranging from clinical to commercial stages, in both global and APAC regions.
Among these, ATG-031, an anti-CD24 antibody, stands as a first-in-class asset, while ATG-008 (mTORC1/2 inhibitor), ATG-037 (CD73 inhibitor), ATG-101 (PD-L1/4-1BB bispecific antibody), ATG-008 (ATR inhibitor), ATG-022 (Claudin 18.2 antibody-drug conjugate), and ATG-017 (ERK1/2 inhibitor) are renowned for their best-in-class potential. These promising assets are currently being evaluated in 16 clinical trials across the globe.
In the near future, our clinical achievements will be unprecedented! We have already obtained 7 IND approvals and an Orphan Drug Designation, and we are thrilled to announce that the first patient has been dosed in 5 of our studies. With these exciting milestones, we are confident that 2022 and early 2023 will be a time of great progress for our team.
We showcased our groundbreaking research at seven renowned international congresses and medical journals, including the AACR, ASCO, SITC, CSCO, EHA, ASH and BMC Medicine, by releasing the results from 16 preclinical and clinical studies. Our research has been met with great enthusiasm and has opened up new possibilities for further exploration.
3. Fast-Growing Pan-APAC Commercialization of XPOVIO®
XPOVIO® is now available in an impressive 600 hospitals and 120 DTP pharmacies, across 30 provinces, autonomous regions, and municipalities in China. It has also gained widespread recognition, with 34 urban-customized commercial health insurance listings (Huiminbao). XPOVIO® is making its mark as a trusted and accessible treatment option for patients across the nation.
XPOVIO® has been recognized as an effective treatment for various conditions, as evidenced by the 27 inclusions and upgraded recommendations from 7 major clinical guidelines and evidence-based studies.
Furthermore, it was also featured in 2 Guiding Principles for Clinical Applications and expert consensuses. This recognition is a testament to the effectiveness of XPOVIO® as a viable treatment option.
In 2022, Antengene’s XPOVIO® achieved a milestone for the APAC region when it obtained NDAs in Australia, Singapore, and Taiwan, China, followed by the first reimbursement listing for XPOVIO® on the Pharmaceutical Benefits Scheme (PBS) in Australia. Antengene continued to pursue NDAs in Macau, China, Thailand, and Malaysia.
Antengene is looking ahead to 2023 with ambitious plans to expand access to XPOVIO®. The company is aiming to secure regulatory approval for the drug in Hong Kong, China, Macau, China, and Indonesia. Additionally, they plan to submit an sNDA to explore the potential of XPOVIO® to treat Diffuse Large B-cell Lymphoma (DLBCL) in Mainland China.
4. High Profile Clinical Trial Collaborations in 2022
Karyopharm Therapeutics Inc. has announced an exciting new clinical collaboration with BeiGene to study the efficacy of XPOVIO® in combination with tislelizumab for the treatment of T- and NK-cell lymphoma. This Phase I/II study promises to be an important step forward in finding better treatments for lymphoma patients.
Atara Biotherapeutics has recently entered into a clinical collaboration with MSD to evaluate ATG-037 in combination with pembrolizumab in the Phase I STAMINA-001 trial. This trial is designed to assess the efficacy of the combination in patients with locally advanced or metastatic solid tumors, offering a potential opportunity for improved patient outcomes.
5. A Strong Cash and Bank Balance to Provide Runway Beyond 2025
As of December 31st, 2022, Antengene’s cash and bank balance stands at an impressive RMB1.8 billion, allowing them to continue to grow, develop, and operate beyond 2025. Thanks to their strong near-term revenue growth potential of XPOVIO®, and their careful spending, this impressive cash and bank balance will ensure that Antengene continues to have a bright future.
Antengene, a leading multinational biopharmaceutical company, has achieved great success in 2022. Our lead product, XPOVIO®, has seen tremendous growth in revenue reaching RMB160 million – a 5.6 times year-over-year increase.
Our drug discovery and development programs have also made great strides, with a number of our potential BIC/FIC programs now undergoing clinical studies in Australia, Mainland of China, and the U.S. With a cash and bank balance of about RMB1.8 billion, we are well-positioned to continue to improve the quality of life for cancer patients and create value for our shareholders and partners.
We are committed to becoming a leading biopharmaceutical company with a portfolio of commercialized products and will strive for continued success in the years to come.
Antengene Corporation Limited (SEHK: 6996.HK) is an innovative biopharmaceutical company on a mission to provide state-of-the-art treatments for patients around the world.
We are dedicated to the research, development, production, and commercialization of cutting-edge first-in-class/best-in-class therapeutics for the treatment of hematologic malignancies and solid tumors. Our vision is to “Treat Patients Beyond Borders” – a goal we strive to achieve through our pioneering initiatives.