Hiteck's losses widen as chondrosarcoma drug advances
Losses keep widening, revenue falling Hiteck's 2026 interim report showed the net loss swelling to 78.71 million yuan, with revenue down 18% and gross margin slipping to 34.25%. A company that keeps losing more money and selling less worries investors, which weighs on the share price.
The widening loss and falling revenue are the core financial drag on the stock.
Chondrosarcoma drug trial approved Regulators approved human trials of Hiteck's injectable epratuzumab for chondrosarcoma, a bone cancer with no approved drug. It is a first-in-class therapy, so success could open a new market, though trials take years and carry high risk.
This is the main new pipeline catalyst that could lift the stock.
Gene therapy investee also moves forward Hiteck's investee Zhongmou Medical won approval to test ZM-02, a gene therapy eye injection for a blinding retinal disease. It adds a second pipeline option, but the company itself warns it will not affect near-term results.
It shows a second, smaller pipeline advance that supports the long-term story.
Core product capacity delayed, losses drag on Investors learned Hiteck's key drug eprinomectin will not add capacity until late 2027, and its CDMO unit keeps losing money. With four straight loss years and a single-product pipeline, near-term profit hopes look distant.
It explains why the core business cannot quickly offset the losses.
