CARsgen Therapeutics (CARSGEN-B, 02171) released its unaudited results for the six months ended 30 June 2026.

Financial highlights • Revenue rose 21.5% year-on-year to RMB61.92 million, driven by higher sales of the autologous BCMA CAR-T product zevorcabtagene autoleucel (zevor-cel). • Gross profit increased 43.0% to RMB42.02 million, lifting gross margin to 67.9% (H1 2025: 57.6%) on cost efficiencies from in-house plasmid and vector production. • Net loss narrowed 6.1% to RMB70.84 million. Adjusted net loss (excluding share-based compensation) fell 55.5% to RMB31.93 million, reflecting lower administrative expenses. • R&D spending edged up 1.7% to RMB132.46 million, while selling and distribution expenses jumped to RMB12.26 million (H1 2025: RMB0.94 million) following the build-out of a commercial team. • Cash and cash equivalents stood at RMB1.40 billion, up 24.6% from end-2025, supported by RMB405 million gross proceeds from a May 2026 top-up placing that introduced new institutional investors. Management expects year-end cash to remain above RMB1.20 billion and to be sufficient to fund operations into 2030. • Gearing ratio declined to 6.6% (end-2025: 7.9%).

Operational updates • Zevor-cel: 110 confirmed orders were received from commercialization partner Huadong Medicine during the period; certification and filings completed in over 20 provinces or cities. • Satricabtagene autoleucel (satri-cel): Received NMPA approval in June 2026 for Claudin18.2-positive advanced gastric/gastroesophageal junction adenocarcinoma, becoming the first CAR-T therapy approved globally for a solid tumor. Initial patient procedures (prescriptions and leukapheresis) commenced within two weeks of approval; inclusion in 2026 CSCO and CACA guidelines achieved. • Pipeline progress: – Allogeneic BCMA CAR-T CT0596 and dual CD19/CD20 CAR-T CT1190B obtained NMPA IND clearances for Phase I registrational trials; updated data presented at the 2026 EHA congress. – In vivo CAR-T candidate KJ-C2529 (CD19/CD20) entered investigator-initiated trial. • Manufacturing: signed agreements to invest up to RMB370 million in a new Jinshan manufacturing base, supplementing the existing 2,000-patient-per-year GMP facility.

Outlook Management will focus on scaling commercialization of zevor-cel and newly approved satri-cel, while advancing allogeneic THANK-u Plus® and in-vivo CARvivo® platforms to broaden the pipeline and reduce production costs.