LongBio Pharma (Suzhou) Co., Ltd. (LONGBIO-B) reported interim 2026 results showing accelerated pipeline progress and a substantially strengthened balance sheet following its Hong Kong IPO.
Pipeline Milestones • LP-003 (anti-IgE antibody) – Seasonal allergic rhinitis: domestic Phase III trial met all primary endpoints; Biologics License Application accepted by China’s NMPA on 20 Aug 2026. • LP-003 – Chronic spontaneous urticaria: head-to-head Phase II data versus omalizumab showed a Week 12 complete response rate of 66.7% for the 200 mg Q8W arm vs 43.6% for omalizumab (p=0.0405); greater UAS7 symptom reduction (-26.63 vs ‑21.85; p=0.0137). Phase III to start 2H 2026. • LP-003 – FDA IND clearance obtained in July for peanut allergy; Phase II trial for CRSwNP initiated; allergic asthma Phase II ongoing. • LP-005 (C5 × C3b bi-functional complement inhibitor) – Phase II extension in PNH underway, with Q4W dosing showing favourable PK/PD and responses in eculizumab-refractory patients. New Phase II trials launched for complement-mediated kidney diseases and moderate-to-severe periodontitis.
Financial Performance (RMB) • Research & development expenses: 108.23 million, up 60.8% YoY, driven by advancing LP-003 Phase III/II studies and LP-005 trials. • Administrative expenses: 24.62 million, up 117.0% YoY, reflecting listing-related professional fees and staff expansion. • Finance costs: 0.64 million, down 96.0% YoY after lower redemption-related interest. • Net loss widened 43.1% to 134.81 million.
Balance Sheet Highlights (30 Jun 2026 vs 31 Dec 2025) • Cash, cash equivalents and time deposits surged to 1.21 billion from 95.05 million, bolstered by net IPO proceeds of HK$1.45 billion. • Current ratio improved to 9.0 (2.4 previously). • Total assets rose to 1.27 billion; net assets increased seven-fold to 1.13 billion. • Interest-bearing bank borrowings stood at 45.00 million; gearing remains negligible due to net cash position.
Capital Deployment • 75% of IPO proceeds earmarked for R&D and commercialisation of LP-003 and LP-005; 15% for other pipeline projects and platform enhancement; 10% for working capital. As of 30 Jun 2026, only HK$15.10 million had been spent, leaving HK$1.43 billion to fund planned milestones through 2031.
Outlook and Near-Term Catalysts Management targets LP-003 commercial launch in China upon NMPA approval and plans to seek NRDL inclusion. Phase III initiation for CSU and continued global expansion of LP-003 (peanut allergy) are scheduled for 2H 2026. LP-005 Phase II data in PNH are expected by 4Q 2028, with ongoing studies in kidney diseases and periodontitis.