3SBio Rises after Reporting Q3 Results
by Richard Daverman, PhD
ChinaBio Today
For a change, a China-based biopharma has released a Q3 financial report that made investors happy, sending them out to buy the stock and push its price higher. 3SBio (SSRX) reported revenues that climbed 57% (year over year) to 56.1 million RMB ($7.5 million) and profits that jumped a large 151% to 24.1 million RMB ($3.2 million).
The shares of 3SBio responded by gaining 16% in the first post-report session, moving up $2.28 to $16.68. That was a different result than experienced by most China-based biopharmas recently. In the past few days, WuXi PharmaTech (WX), Tongjitang Chinese Medicines (TCM) and Simcere Pharmaceuticals (SCR) all dropped after reporting results that were much improved over the year before, but did no more than meet the high expectations of investors.
Breaking down its numbers, 3SBio said its mainstay product, TPAIO (a version of EPO), saw its sales rise 31% to 36.3 million RMB ($4.8 million). 3SBio’s newer product, the protein-based recombinant human thrombopoietin (TPO) TPAIO, had a much larger increase of 172%, but it still produced only 14.2 million RMB ($1.9 million). Earnings per share came in at 15 cents per ADS.
Looking into the future, 3SBio says it expects to complete the Phase III trial of Nuleusin, a high-dose (36,000 IU) version of EPIAO, by the end of 2007. The Phase III trial of TPIAO for idiopathic thrombocytopenic purpura should also be finished before the end of the year.
During Q3, 3SBio reported at a scientific meeting in China on two clinical trials of its in-licensed iron-sucrose supplement. Comparing the 3SBio drug with known IV-Iron supplements, the 3SBio candidate was found to have superior safety and similar efficacy as the other products. The company also beefed up its sales force, mostly in terms of training. They have their eyes on an additional 121 hospitals for 3SBio’s line of EPAIO products. In Q3, 3SBio was successful in introducing EPIAO into the 19 major hospitals of the Beijing military hospital system. 3SBio is also building up its export business as EPAIO is currently in the process of entering the national insurance reimbursement list of Thailand.
ChinaBio Today is a regular contributor to BioHealth Investor
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ChinaBio Today
For a change, a China-based biopharma has released a Q3 financial report that made investors happy, sending them out to buy the stock and push its price higher. 3SBio (SSRX) reported revenues that climbed 57% (year over year) to 56.1 million RMB ($7.5 million) and profits that jumped a large 151% to 24.1 million RMB ($3.2 million).
The shares of 3SBio responded by gaining 16% in the first post-report session, moving up $2.28 to $16.68. That was a different result than experienced by most China-based biopharmas recently. In the past few days, WuXi PharmaTech (WX), Tongjitang Chinese Medicines (TCM) and Simcere Pharmaceuticals (SCR) all dropped after reporting results that were much improved over the year before, but did no more than meet the high expectations of investors.
Breaking down its numbers, 3SBio said its mainstay product, TPAIO (a version of EPO), saw its sales rise 31% to 36.3 million RMB ($4.8 million). 3SBio’s newer product, the protein-based recombinant human thrombopoietin (TPO) TPAIO, had a much larger increase of 172%, but it still produced only 14.2 million RMB ($1.9 million). Earnings per share came in at 15 cents per ADS.
Looking into the future, 3SBio says it expects to complete the Phase III trial of Nuleusin, a high-dose (36,000 IU) version of EPIAO, by the end of 2007. The Phase III trial of TPIAO for idiopathic thrombocytopenic purpura should also be finished before the end of the year.
During Q3, 3SBio reported at a scientific meeting in China on two clinical trials of its in-licensed iron-sucrose supplement. Comparing the 3SBio drug with known IV-Iron supplements, the 3SBio candidate was found to have superior safety and similar efficacy as the other products. The company also beefed up its sales force, mostly in terms of training. They have their eyes on an additional 121 hospitals for 3SBio’s line of EPAIO products. In Q3, 3SBio was successful in introducing EPIAO into the 19 major hospitals of the Beijing military hospital system. 3SBio is also building up its export business as EPAIO is currently in the process of entering the national insurance reimbursement list of Thailand.
ChinaBio Today is a regular contributor to BioHealth Investor
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