Pharmosa Biopharm Chairman Wang Jianzhi stated at the annual shareholders' meeting on June 26 that, benefiting from the initial licensing fee for L606, the company achieved an EPS of 0.07 last year, turning its operations from loss to profit. This year, Pharmosa aims to accelerate regional licensing expansion, with long-term plans to establish an aseptic filling plant to meet global patient demand.
Pharmosa also completed a full board re-election on June 26, selecting seven directors (including three independent directors): Wang Jian-zhi (representative of Fengsi Investment), Yan Lin-quan (representative of Fuqueshen Investment), Gan Pei, Shi Gerui, and independent directors Fang Yanling, Zhang Wenchang, and Wu Liren. In the board meeting following the shareholders' meeting, Wang Jianzhi was re-appointed as Chairman, and Yan Linquan was elected as the new Vice Chairman.
Pharmosa, experiencing a significant operational turnaround, reported consolidated revenue of 314 million NTD last year, with a net profit attributable to the company of 8.46 million NTD and earnings per share (EPS) of 0.07, shifting from loss to profit.
Wang Jianzhi outlined the company's short-term and long-term development plans. The short-term goals focus on four key areas: First, assisting their North American licensing partner in completing the U.S. Phase III clinical trial of L606 for treating pulmonary arterial hypertension (PAH), a rare disease, and applying for the global multi-center Phase III clinical trial of L606 for treating pulmonary hypertension associated with interstitial lung disease (PH-ILD). Second, initiating regional licensing and drug certification layout for L606 outside North America, with ongoing discussions with specific potential partners.
Third, completing the Phase I clinical trial of L608 in Australia by the third quarter of this year and applying for a pre-clinical consultation meeting with the FDA, planning to enter Phase II/III clinical trials for treating systemic sclerosis-related Raynaud's phenomenon and digital ulcers (SSc-RP/DU). Lastly, accelerating cooperation with medical device companies to develop proprietary new nebulizer devices.
Wang Jianzhi noted that last year, L608 entered Australian Phase I clinical trials using their first proprietary mesh vibrating nebulizer. Recently, they completed development testing of another next-generation breath-actuated nebulizer suitable for L606, capable of producing clinical trial samples as needed. This year, they aim to complete the clinical supply chain and begin mass production. This goal not only meets future clinical trial and commercialization needs for their drug-device combination products but also helps reduce operational costs and risks.
Furthermore, Pharmosa's long-term development plans include establishing an aseptic filling plant to meet clinical trial and post-market mass production and sales demands, satisfying long-term global patient needs. They are also initiating commercial expansion for L608, exploring regional cooperation or licensing opportunities, and continuing to expand new indications for L606 and L608 to increase the market value of existing products and accumulate long-term growth momentum.
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