Ascentage Pharma Revenue Rises 29% as Spending Surges on Drug Push

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) reported first-half 2026 revenue of $44.5 million on Aug. 20, a 29.3% increase from $32.6 million a year earlier on a constant-currency basis. Product sales drove the gain, climbing 32.6% to $41.6 million as the company expanded sales of its two approved oncology drugs, Olverembatinib and Lisaftoclax.

The topline growth was overshadowed by a sharp ramp in spending. Selling and distribution expenses rose 64.3% to $33.4 million, which the company tied to higher marketing investment for Lisaftoclax. Research and development costs jumped 32% to $102.8 million as global clinical trials accelerated. Administrative expenses climbed 19.3% to $17.5 million on increased share-option and RSU costs. Other expenses, including foreign-exchange losses and donations, rose 71.9% to $10.2 million.

The result was a net loss of $120.4 million for the half, widening from an $82.5 million loss in the same period of 2025. Loss per share was $0.32, compared with $0.24 a year earlier.

Cash and bank balances fell to $279.4 million from $353.2 million at the end of 2025, a decline of 23.3% on a constant-currency basis. Ascentage attributed the drawdown to the cost of its expanding clinical programs.

Chairman and CEO Dr. Dajun Yang said the company continued to execute on strategic priorities while adding commercial leadership. The appointments of Dr. Faiçal Miyara as chief business officer and Jim Ziegler as chief commercial officer, he said, strengthen Ascentage's ability to build a global commercial-stage oncology business.

Olverembatinib, a third-generation BCR-ABL1 tyrosine kinase inhibitor, was the company's first approved product in China, where it treats chronic myeloid leukemia patients with T315I mutations or those resistant to earlier TKIs. The drug is covered by China's National Reimbursement Drug List. Ascentage is running FDA- and EMA-cleared registrational Phase III trials for Olverembatinib, including the POLARIS-2 study in CML, POLARIS-1 in newly diagnosed Ph+ acute lymphoblastic leukemia, and POLARIS-3 in SDH-deficient gastrointestinal stromal tumors.

Lisaftoclax, a Bcl-2 inhibitor, won Chinese NMPA approval for chronic lymphocytic leukemia or small lymphocytic lymphoma patients who had at least one prior therapy including a BTK inhibitor. Four global registrational Phase III trials are underway: GLORA in CLL/SLL patients with suboptimal BTK-inhibitor response, GLORA-2 in newly diagnosed CLL/SLL, GLORA-3 in elderly or unfit AML patients, and GLORA-4 in newly diagnosed higher-risk myelodysplastic syndromes. Both the GLORA and GLORA-4 trials carry FDA and EMA clearance.

Ascentage has partnership agreements with Takeda, AstraZeneca, Merck, Pfizer, and Innovent, along with research relationships with Dana-Farber Cancer Institute, Mayo Clinic, the National Cancer Institute, and the University of Michigan. The company will host investor webcasts in Mandarin and English on Aug. 20 to discuss the interim results.