Kelun-Biotech Widens Losses as It Accelerates ADC Push and Wins New China Approvals

Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H ( (HK:6990) ) has issued an update.

Sichuan Kelun-Biotech reported 2025 revenue of RMB2.06 billion, up 6.5% year-on-year, with gross profit rising 16.1%, but losses widened as it increased research and development spending. The company strengthened its balance sheet, boosting cash and financial assets by 48.2% and reducing its debt-to-asset ratio, underscoring an aggressive investment phase despite deeper losses.

Operationally, Kelun-Biotech advanced its oncology portfolio, led by its core TROP2 antibody-drug conjugate sac-TMT, which secured marketing authorization in China for previously treated unresectable or metastatic triple-negative breast cancer. Positive Phase 3 data showed substantial improvements in progression-free and overall survival versus chemotherapy, and the drug has now also been approved for a new indication in HR+/HER2- metastatic breast cancer, bolstering the company’s positioning in the competitive ADC market.

The most recent analyst rating on (HK:6990) stock is a Buy with a HK$545.00 price target. To see the full list of analyst forecasts on Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H stock, see the HK:6990 Stock Forecast page.

More about Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H

Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. is a China-based biopharmaceutical company focused on developing antibody-drug conjugates and other novel oncology therapies. Its core products target difficult-to-treat cancers such as triple-negative breast cancer and hormone receptor–positive, HER2-negative breast cancer, with an emphasis on both domestic approval and global intellectual property rights.

Average Trading Volume: 547,288

Technical Sentiment Signal: Buy

Current Market Cap: HK$97.38B

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