VISIN PHARMA-B (02561) released its annual performance. Research and development costs increased by 3.27% to 93.484 million yuan compared to the previous year.

VISEN PHARMA-B (02561) released its financial results for the year ending on December 31, 2025, with revenue of 165,000 yuan (RMB, the same below) and other income of 11941.1 million yuan; research and development costs amounted to 93484 million yuan, an increase of 3.27% compared to the previous period. During the reporting period, the Group continued to advance the company's drug pipeline and business operations, achieving the following milestones and accomplishments: Lonapegsomatropin is the only long-acting growth hormone shown to have superior efficacy and equal safety compared to short-acting (daily injection) human growth hormone in positive drug-controlled and parallel-group trials for the treatment of pediatric growth hormone deficiency. The import medical device registration application for needles was approved on April 23, 2025; and the automatic injector was approved in April 2024. On June 12, 2025, the company entered into a commercial supply framework agreement with Ascendis Pharma to further strengthen the supply arrangements for core products. In terms of technology transfer and localization, the company successfully completed a pilot research and development of technology transfer in December 2025, and developed the Dual Chamber Device (DCD) technology as a drug delivery platform for the company's self-developed formulations, which has been implemented in the form of a dual-chamber cartridge in automatic injection pens as the drug delivery system for core product formulations. On November 6, 2025, while conducting technology transfer and localization, the company entered into a strategic cooperation agreement with Tofflon Science and Technology Group to jointly promote the development and industrial application of dual-chamber freeze-dried formulation technology. On January 26, 2026, the National Medical Products Administration approved the bioproduct marketing authorization application for injection-use Lonapegsomatropin (domestic name in China: Weizhengao, English name: SKYTROFA) for the treatment of growth hormone deficiency in children and adolescents aged 3 and above in China. The approved product manual in China includes confirmation from international and Chinese Phase 3 clinical trials of the superior efficacy of the product over daily growth hormone formulations, a human growth hormone molecular weight of approximately 22kDa (similar to endogenous growth hormone), absence of preservatives, and storage at room temperature (30C) for 6 months. As of the date of this announcement, the company has established a lean but highly specialized internal commercialization team, fully equipped with core academic promotion and medical-related functions. The company will launch the commercialization of Lonapegsomatropin in 2026.