Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) reported first-half FY26 results that exceeded analyst expectations for both revenue and earnings per share. The company logged revenue of US$44.5 million, significantly beating the consensus estimate of US$24.1 million. Loss per share came in at US$0.32, better than the estimated loss of US$0.44.

Despite the beat on key metrics, the company’s net loss widened to US$120.4 million from US$82.5 million in the corresponding period of FY25. This deterioration was driven by a 32% rise in research and development (R&D) expenses to US$102.8 million and a 64.3% jump in selling and distribution expenses to US$33.4 million.

Financial Performance Overview

Administrative expenses increased by 19.3% to US$17.5 million, largely due to higher share option and restricted stock unit (RSU) costs. Other expenses rose 71.9% to US$10.2 million, primarily attributed to foreign exchange losses and donation expenditures.

What the Numbers Show

The divergence between revenue growth and expense expansion highlights the company's heavy investment phase. While product sales grew by nearly one-third, R&D and selling expenses combined grew at a faster absolute rate, consuming all gross profit generation. Specifically, gross profit was US$42.8 million, which was entirely offset by operating expenses totaling approximately US$153.3 million (R&D plus Selling & Distribution plus Administrative). This indicates that current commercial revenues are not yet sufficient to cover the accelerated burn rate associated with global clinical trial progressions and marketing investments for Lisaftoclax.

Management reaffirmed a cash runway through the end of 2027. Cash and bank balances decreased by 23.3% to US$279.4 million as of June 30, 2026, from US$353.2 million at year-end FY25. The reduction reflects the cash outflow required to fund the accelerated global clinical progress and associated R&D spend. Total assets less current liabilities stood at US$200.0 million.

Pipeline and Commercial Updates

The company continues to advance its key oncology therapies:

• Olverembatinib: Formulary access expanded to 879 Direct-to-Patient (DTP) pharmacies and hospitals, a 12% increase from June 2025. Hospital formulary listings grew 34% to 394. Enrollment continues in three global registrational Phase III trials (POLARIS-1, POLARIS-2, POLARIS-3). Management highlighted prospective controlled data showing a clear benefit from switching to olverembatinib in second-line/late-line settings, with a 47.6% MMR rate as a single agent compared to 10% for those who did not switch.
• Lisaftoclax: Formulary access reached 415 DTP pharmacies and hospitals, including 60 hospitals. Enrollment is ongoing in four global registrational Phase III trials (GLORA, GLORA-2, GLORA-3, GLORA-4). Management noted that enrollment for GLORA-2 is complete, while GLORA-3 is close to completion. The company plans to actively advance Lisaftoclax’s inclusion in China’s National Reimbursement Drug List (NRDL) in 2026, having passed the initial review and entered the final product list for expert review.
• APG-3288: Received IND clearance from the FDA in January 2026 and China CDE in February 2026. A global Phase I study is advancing in the US and China. Management does not anticipate presenting Phase I data at ASH this year but may share updates at EHA next year.

Leadership Appointments

Ascentage Pharma appointed Dr. Faiçal Miyara as Chief Business Officer and Jim Ziegler as Chief Commercial Officer to strengthen its strategic capabilities and commercial leadership. Additionally, the "B" marker was removed from the company’s HKEX stock short name.

Investor webcasts discussing the results will be held on August 20, 2026, with Mandarin and English sessions available via registration on the company’s website.

Ascentage Pharma Group International (NASDAQ: AAPG, HKEX: 6855) will release its unaudited interim financial results for the six months ended June 30, 2026, on August 19, 2026. The global biopharmaceutical company issued a correction to a previous notice, clarifying that the results and corporate update will be published at 7:00 am Eastern Daylight Time (EDT) / 7:00 pm Hong Kong Time (HKT) on August 19, 2026, rather than the previously stated 9:00 am EDT / 9:00 pm HKT. This adjustment ensures investors receive accurate timing for the earnings release, which is critical for trading decisions on both the NASDAQ and Hong Kong Stock Exchange.

The company will host two separate investor webcasts with question-and-answer sessions conducted by its management team. The Chinese (Mandarin) language webcast is scheduled for 9:00 pm EDT on August 19, 2026, which corresponds to 9:00 am HKT on August 20, 2026. Participants must register in advance to access this event. The English language investor conference call and webcast will follow at 8:00 am EDT / 8:00 pm HKT on August 20, 2026. A replay of the English webcast and presentation will be available on the News & Events page of the Ascentage Pharma website after the event.

Ascentage Pharma operates as a commercial-stage integrated biopharmaceutical company focused on cancer therapies. Its pipeline includes inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53, next-generation kinase inhibitors, and protein degraders. The company’s first approved product, Olverembatinib, is a third-generation BCR-ABL1 inhibitor approved in China for treating chronic myeloid leukemia (CML) patients with T315I mutations or those resistant to earlier therapies. It is covered by the China National Reimbursement Drug List (NRDL).

Currently, Ascentage Pharma is conducting several registrational Phase III trials for Olverembatinib. These include the POLARIS-2 trial for CML, the POLARIS-1 trial for newly diagnosed Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL), and the POLARIS-3 trial for SDH-deficient gastrointestinal stromal tumor (GIST) patients. All these trials have received clearance from the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA).

The company’s second approved product, Lisaftoclax, is a novel Bcl-2 inhibitor approved by China’s National Medical Products Administration (NMPA) for adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who have received prior systemic therapy. Ascentage Pharma is advancing four global registrational Phase III trials for Lisaftoclax: GLORA (in combination with BTK inhibitors for CLL/SLL), GLORA-2 (newly diagnosed CLL/SLL), GLORA-3 (newly diagnosed, elderly, unfit AML patients), and GLORA-4 (newly diagnosed higher-risk MDS). GLORA and GLORA-4 have FDA and EMA clearance.

Key Trial Portfolio

Ascentage Pharma has established global intellectual property rights and partnerships with leading companies including Takeda, AstraZeneca, Merck, Pfizer, and Innovent. It also maintains research relationships with institutions such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute, and the University of Michigan. The press release includes standard forward-looking statements regarding risks and uncertainties as detailed in the company’s Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on April 29, 2026.