Ascletis Pharma Inc. (ASCLETIS-B, 01672) issued a profit warning for the six months ended 30 June 2026, flagging an estimated loss attributable to equity shareholders of about RMB319.70 million. The projected deficit is 263.5% wider than the RMB88.00 million loss recorded in the same period of 2025.

The sharp deterioration stems chiefly from an aggressive scale-up in research and development (R&D) outlays. R&D expenses are expected to reach roughly RMB341.70 million, up 132.7% year on year from RMB146.80 million, reflecting accelerated investment in the company’s metabolic disease pipeline spanning both small-molecule and peptide therapeutics.

Key pipeline milestones during the review period include: • Launch of a global Phase III programme for ASC30, an oral GLP-1R agonist targeting obesity. • Planned U.S. IND submissions in 3Q26 for ASC39 (oral amylin receptor agonist) and the fixed-dose oral dual (ASC30_39FDC) and triple (ASC36_37FDC) agonist combinations. • Ongoing U.S. Phase I trials for peptide candidates ASC36i (amylin receptor agonist) and ASC35 (GLP-1R/GIPR dual agonist). • Acceptance of a New Drug Application in China for denifanstat (ASC40), a first-in-class oral FASN inhibitor for acne. • Completion of a U.S. Phase I programme for ASC50, an oral IL-17A inhibitor for autoimmune disorders.

Despite the enlarged interim loss, management highlighted a robust liquidity position, with cash, cash equivalents and other liquid investments of approximately RMB2.31 billion as of 30 June 2026, deemed sufficient to finance operations through 2029.

Ascletis will release its full unaudited interim results in late August 2026. Shareholders and potential investors are urged to exercise caution when dealing in the company’s shares.