Ocumension Therapeutics reported sharply improved interim results for the six months ended 30 June 2026, driven by accelerating product sales and tighter cost control.

Revenue climbed 44.1 % year on year to RMB 423.72 million, supported by stronger demand for key ophthalmic products—Youshiying, Boyoujing, Xalatan, Xalacom and in-licensed Alcon brands—as well as higher sales-based royalties. Gross profit surged 75.6 % to RMB 185.51 million, lifting gross margin to 43.8 % from 35.9 % a year earlier.

The loss for the period narrowed 25.1 % to RMB 99.02 million. On a non-IFRS basis, adjusted net loss shrank 46.7 % to RMB 57.52 million, while adjusted EBITDA turned positive at RMB 22.71 million versus a RMB 40.30 million deficit in the prior-year period.

Cost discipline contributed to the turnaround. R&D spend fell 15.9 % to RMB 32.79 million as several projects transitioned to capitalised development, whereas selling and marketing expenses rose 36.4 % to RMB 159.58 million alongside broader hospital coverage. Administrative expenses edged up 7.9 % to RMB 91.30 million.

Cash and cash equivalents stood at RMB 268.36 million at period-end, down from RMB 402.46 million at 31 December 2025, reflecting treasury investments and working-capital use. Interest-bearing borrowings increased to RMB 265.13 million from RMB 158.21 million, giving the company a net cash position.

Operationally, Ocumension’s commercial network now covers more than 23,000 hospitals, including about 2,900 Grade III institutions, supported by a sales force of over 370 representatives. The Suzhou manufacturing site completed 71 commercial batches across ten product specifications and expects local production approval for Youshiying in the fourth quarter, which management believes will reduce costs and secure supply.

The pipeline comprises 43 assets, with 28 already commercialised, five in Phase III or pivotal studies, and one at the registration stage. Key near-term catalysts include the global Phase III read-out for OT-101 (0.01 % atropine) around October 2026, an NDA submission for glaucoma candidate OT-301, and ongoing Phase III recruitment for presbyopia therapy OT-802.

Management reiterated its goal of achieving full-year profitability, citing continued sales momentum, deeper integration with Alcon’s portfolio and cost benefits from localized manufacturing.