TransThera Sciences (Nanjing), Inc. reported its first meaningful revenue and a sharply reduced interim loss for the six months ended 30 June 2026, driven by an upfront payment from a licensing collaboration with U.S. group Neurocrine Biosciences.
Revenue and earnings • Revenue reached RMB35.46 million, versus nil a year earlier, reflecting a one-time, non-refundable upfront fee from licensing the company’s NLRP3 inhibitor portfolio (ex-Greater China rights) to Neurocrine. • Loss attributable to shareholders narrowed 22.3% year on year to RMB95.47 million (1H25: RMB122.87 million). • Loss per share improved to RMB0.24 from RMB0.32.
Cost structure and expenses • Research and development expenditure rose 11.7% to RMB109.93 million, as the company advanced multiple clinical programmes, led by Tinengotinib. • Administrative expenses fell 16.1% to RMB23.06 million after one-off listing costs in 2025 rolled off. • Net foreign-exchange losses surged to RMB11.65 million, lifting other expenses to RMB11.87 million. • Other income rose to RMB13.98 million, mainly on higher bank interest (RMB4.98 million) and government grants (RMB9.00 million).
Balance-sheet highlights • Cash, cash equivalents and time deposits swelled to RMB924.67 million at 30 June 2026 (31 December 2025: RMB489.14 million), bolstered by three H-share placings that raised a combined HK$624 million. • Net assets more than doubled to RMB877.99 million, while the debt-to-asset ratio improved to 11.1% from 23.7% at year-end 2025. • Trade payables fell 13.2% to RMB90.37 million, reflecting project-cycle timing.
Operational progress • Tinengotinib, the company’s multi-targeted kinase inhibitor, received conditional marketing approval in China on 6 August 2026 for FGFR2-altered cholangiocarcinoma, following the reporting period. • Global and China Phase III trials for cholangiocarcinoma completed enrolment or commenced dosing; Phase II studies in metastatic castration-resistant prostate cancer, breast cancer and hepatocellular carcinoma are advancing. • The pipeline now comprises six clinical-stage and multiple preclinical assets, including AXL/FLT3 inhibitor TT-00973 and reversible BTK inhibitor TT-01488, both in Phase II development. • The company expanded early-stage research with a proprietary RIPTAC platform and selective inhibitors of PDE4B and ITK.
Capital-markets activity • January, April and May 2026 placings issued a total of 11.02 million new H shares, raising HK$624 million net. Funds are earmarked for Tinengotinib trials, manufacturing and commercial build-out, other pipeline R&D, and working capital. As of period-end, approximately HK$34.4 million had been deployed.
Dividend and outlook No interim dividend was declared. Management intends to accelerate Tinengotinib’s commercial launch in China, progress global registration studies, and advance other oncology and inflammation programmes while maintaining a strong cash position to support ongoing development.