Ascentage Pharma (NASDAQ:AAPG), a global biopharmaceutical company developing novel therapies for cancers, hepatitis B virus, and age-related diseases, announced its unaudited financial results for the year ended December 31, 2025.
The results highlight a successful commercial transition, with significant organic growth in product sales offsetting the absence of one-time licensing milestones from the previous year.
Total revenue for 2025 was $82.1 million, a 41.5% decrease year-over-year.
This decline was primarily due to the high baseline set in 2024 by non-recurring upfront payments from global collaborations.
However, core product revenue showed exceptional momentum.
Sales of Olverembatinib, the company’s lead BCR-ABL inhibitor, rose 80.6% to $62.2 million as it gained further market share in resistant chronic myeloid leukemia.
Additionally, the company’s BCL-2 inhibitor, Lisaftoclax, generated $10.1 million in revenue following its commercial launch in July 2025.
To support its late-stage global pipeline, Ascentage increased its Research and Development (R&D) investment by 20.1% to $162.7 million.
The company currently has nine registrational Phase III trials underway, several of which have received clearance from the U.S. FDA and the European Medicines Agency (EMA).
Selling and distribution expenses also climbed 80.4% to $50.6 million, reflecting the expanded commercial infrastructure required for the Lisaftoclax rollout and international market preparation.
Meanwhile, Ascentage reported a net loss of $177.7 million for the year.
Despite the loss, the company’s liquidity remains robust following successful equity offerings in 2025.
It ended the year with US$353.2 million in cash and cash equivalents, providing a sufficient runway to reach critical clinical data readouts and potential new drug application (NDA) filings in 2026 and 2027.