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Ascentage Pharma Posts 29% Revenue Growth, Advances Nine Late-Stage Cancer Trials
• Ascentage Pharma reported a 29% year-over-year revenue increase to US$44.5 million for the first half of 2026, driven by growing product sales.
• The company is actively enrolling patients in nine global registrational Phase III trials, including four cleared by both the FDA and EMA.
• Its lead drug, Olverembatinib, is now on formulary at 879 pharmacies and hospitals in China, a 12% increase from the prior year.
• The biopharma firm strengthened its leadership by appointing Dr. Faical Miyara as Chief Business Officer and Mr. James Ziegler as Chief Commercial Officer.
ROCKVILLE, Md., Aug. 19, 2026 — Ascentage Pharma Group International, a global commercial-stage biopharmaceutical company, today announced robust financial growth alongside significant clinical progress in its oncology pipeline. For the six months ended June 30, 2026, the company recorded unaudited revenue of US$44.5 million, marking a substantial 29% increase compared to the same period last year. This growth was primarily fueled by increased sales of its commercialized therapies. Concurrently, Ascentage continues to aggressively advance a broad portfolio of late-stage clinical programs aimed at bringing novel cancer treatments to a global market.
The company's clinical development engine is operating at a high tempo, with nine registrational Phase III trials currently underway worldwide. This includes four key studies that have received clearance from both the U.S. Food and Drug Administration and the European Medicines Agency. The pipeline is anchored by Olverembatinib, a third-generation BCR-ABL1 inhibitor, and Lisaftoclax, an oral Bcl-2 inhibitor. Commercial adoption of Olverembatinib in China is accelerating, with the drug now available on formulary at 879 direct-to-patient pharmacies and hospitals—a 12% expansion year-over-year. Hospital formulary inclusions saw even more dramatic growth, rising 34% to 394 institutions.
To support its evolving global strategy and commercial footprint, Ascentage Pharma has bolstered its executive team with two key appointments. Dr. Faical Miyara joins as Chief Business Officer, and Mr. James Ziegler assumes the role of Chief Commercial Officer. "These appointments further strengthen our strategic capabilities and commercial leadership as we continue building a global commercial-stage oncology company," stated Dr. Dajun Yang, Chairman and CEO. This leadership expansion coincides with the company's increased investment in research and development, which reached US$102.8 million for the half-year period, a 32% increase to support its expanding clinical trial activities.
Despite the strong revenue growth, the company reported an increased net loss of US$120.4 million for the period, attributable to its significant R&D investments and commercial expansion costs. Cash and bank balances stood at US$279.4 million as of June 30, 2026. Ascentage Pharma will host investor webcasts in both Mandarin and English on August 20, 2026, to discuss these interim results and provide further business updates. The company's progress underscores its transition from a research-focused entity to an integrated global biopharma with a deepening commercial presence and a potentially transformative late-stage pipeline.