Chinese biotech innovator Jacobio Pharma reported its 2025 annual results on Wednesday, highlighting its first commercial product approval in China and continued progress in its oncology pipeline as the company moves toward profitability.

The Hong Kong-listed drug developer said its KRAS G12C inhibitor glecirasib received regulatory approval in China in 2025 and was subsequently included in the country's national reimbursement drug list, marking the company's transition from a research-focused biotech into a commercial-stage firm.

Jacobio said it earned 8.55 million yuan ($1.2 million) in revenue between June and December 2025 through the drug, which is being commercialized in China by its partner.

The medicine is approved for patients with previously treated KRAS G12C-mutated non-small cell lung cancer.

Wang Yinxiang, Jacobio chairman and co-CEO, said the approval represented a milestone for the company, which was founded a decade ago.

"2025 marked both our 10th anniversary and the beginning of our first harvest period," Wang said in a statement.

"The approval and reimbursement listing of our first innovative therapy in China signals that our R&D capabilities have entered the commercialization stage."

The company also reported progress in its broader KRAS-targeted research programs. Its oral pan-KRAS inhibitor candidate is undergoing clinical trials in both China and the United States.

In December 2025, Jacobio had entered a global collaboration agreement valued at up to $2.01 billion with AstraZeneca covering the development of the pan-KRAS program. The deal includes an upfront payment of $100 million, according to the company.

In addition, Jacobio is advancing several antibody-drug conjugate candidates based on its proprietary platform. Two programs targeting different tumor pathways are currently in preclinical development and are expected to enter investigational new drug application stages in the second half of 2026, the company said.

On the financial side, Jacobio said cash, cash equivalents and available bank facilities totaled about 1.53 billion yuan as of the end of 2025, with a positive net cash balance. The company expects the figure to exceed 2 billion yuan in the first quarter of 2026 and said it anticipates turning profitable during 2026 as partnerships and commercialization progress.