Jacobio Pharma Announces 2024 Annual Results

BEIJING, SHANGHAI and BOSTON, March 19, 2025 /PRNewswire/ -- Jacobio Pharma (1167.HK) released its 2024 annual results, with revenue of RMB160 million, R&D expense of RMB330 million. Major operating and financing activities generated RMB320 million cash inflows. By the end of 2024, cash and bank balances and bank credit balances amounted to RMB1.45 billion. Jacobio also announced recent business progress and expected milestones.

"2024 is a transforatmive year for Jacobio. We have submitted a New Drug Application (NDA) for the KRAS G12C inhibitor glecirasib and have licensed out the China rights of glecirasib and the SHP2 inhibitor sitneprotafib to our partner. This marks  Jacobio's  successful transformation  from the early R&D stage to an innovation-driven value realization stage," said Dr.Yinxiang Wang, the Chairman and CEO of Jacobio Pharma. "Looking ahead to 2025, glecirasib is expected to receive the official approval for marking, which will continuously generate cash flow to invest in Jacobio' subsequent pipeline."

Development of core clinical stage products

Glecirasib (JAB-21822, KRAS G12C inhibitor) and sitneprotafib (JAB-3312, SHP2 inhibitor)

• The commercialization and further clinical development in China of glecirasib and sitneprotafib were licensed to Allist on August 30, 2024.
• Non-small cell lung cancer (NSCLC)
  • The NDA application of glecirasib monotherapy in second-line and above NSCLC was submitted to the CDE (China Drug Evaluation Center) in May 2024 and the priority review designation was granted in the same month. Glecirasib is expected to be approved in the first half of 2025.
  • The Phase III pivotal trial of glecirasib combined with sitneprotafib in front-line NSCLC enrolled the first patient in China on August 7, 2024.
• Multi-tumor basket
  • The multi-tumor basket registration phase II trial of glecirasib for the treatment of pancreatic cancer, biliary tract cancer, gastric cancer, small bowel cancer, appendiceal cancer and other indications has been initiated in China. Glecirasib has received orphan drug designation (ODD) from FDA and EMA for pancreatic cancer.
• Colorectal cancer
  • The Phase III trial of glecirasib mono or in combination with cetuximab in third line was approved by the CDE in May 2024

JAB-23E73 (pan-KRAS inhibitor)

• The IND (Investigational New Drug) applications were approved in China and the United States in September 2024
• The first patient was enrolled in November 2024
• The dose escalation phase is expected to be completed in the second half of 2025

JAB-30355 (p53 Y220C activator)

• The IND application of FIH (first-in-human) global trial of JAB-30355 was approved by the FDA in March 2024 and by the CDE in June 2024.
• The first patient was enrolled in July 2024
• The dose escalation is expected to be completed in the second half of 2025

JAB-8263 (BET inhibitor)

• The dose escalation for JAB-8263 in solid tumors and hematologic malignancy were completed in the U.S. and China, respectively. The RP2D (phase II recommended doses) was obtained.
• Dose expansion in patients with myelofibrosis is ongoing.
• Solid tumor portion with specific biomarkers is being explored. .

JAB-2485 (Aurora A inhibitor)

• A Phase I/IIa global trial of JAB-2485 is ongoing in the U.S. and China.
• Dose escalation phase is expected to be completed in the first half of 2025
• The expansion of monotherapy and combination with chemotherapy are being planned.

Development of pre-clinical pipelines

JAB-BX467 (HER2-STING iADC)

• Clinical candidate of HER2-STING iADC has been nominated in the second half of 2024.
• The IND application is being planned to be submitted in 2026.

JAB-BX600 (KRAS G12D ADC)

• The clinical candidate is expected to be nominated in the second half of 2025.

As of December 31, 2024, Jacobio has filed more than 360 patent applications worldwide, including 126 authorized patents.

Conference call information

Jacobio Pharma will hold a conference call at 9:30 AM (Beijing time) on March 20, 2024. Participants, please register in advance through this link: https://s.comein.cn/hdqi2zrx

About Jacobio Pharma

Jacobio Pharma (1167.HK) is committed to providing breakthrough treatments for patients. With an induced allosteric drug discovery platform, the company's core projects focus on the KRAS pathway. The company envisions becoming a global leader in research and development, fostering strategic partnerships to drive innovation. Jacobio's  R&D centers are located in Beijing, Shanghai (China), and Boston (USA). Clinical trials are conducted at over 180 sites in China, more than 30 sites in the USA, and over 10 sites across several European countries. For more information, please visit: http://www.jacobiopharma.com

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SOURCE Jacobio Pharma