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OSCOTEC Inc. Posts Operating Profit of 28.7 Billion Won in First Half, Returning to Profitability… Thanks to Technology Exports

On August 14, 2026 Oscotec reported the company returned to profitability in the first half of this year, driven by revenue from the technology export of "Sebidoplenib" and sales of "Lecraza," a treatment for non-small cell lung cancer.

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OSCOTEC Inc.(039200)The company announced on the 14th that its consolidated revenue for the first half of this year reached 56.3 billion won, a 371.0% increase compared to the same period last year. Operating profit for the same period was 28.7 billion won, marking a turnaround from a 9.0 billion won loss in the same period last year. Net profit also reached 35.8 billion won, shifting from a 10.3 billion won loss in the first half of last year to a profit.

The improvement in performance was particularly concentrated in the second quarter of this year. OSCOTEC Inc.’s second-quarter revenue reached 52.6 billion won, a 425.6% increase compared to the same period last year. Operating profit stood at 38.7 billion won, and net profit at 40.8 billion won, both turning from a loss in the same period last year to a profit. Although the company posted an operating loss of approximately 10 billion won in the first quarter, it recorded a profit for the first half of the year as large-scale technology transfer revenue was reflected in the second quarter.

The improvement in performance was driven by revenue from new drug technology transfers. Revenue from technology transfers in the first half of the year totaled 49.8 billion won, accounting for 88.5% of total revenue. Royalty revenue amounted to 4.9 billion won, while revenue from the sale of goods was 1.5 billion won.

In particular, the technology transfer agreement for "Cevidoplenib," a candidate drug for autoimmune diseases jointly developed by OSCOTEC Inc. and its U.S. subsidiary Genosco, contributed significantly to the company’s performance.

In June, OSCOTEC Inc. signed an agreement with U.S.-based Agios Pharmaceuticals to transfer the global development and commercialization rights for Cevidoplenib. Consequently, 34 billion won was recognized as technology transfer revenue in the first half of the year in connection with the non-refundable upfront payment of $25 million (approximately 34 billion won) received under the agreement.

Revenue related to Lecraza also increased. Milestone and royalty revenue recognized in the first half of the year for Lecraza—a non-small cell lung cancer treatment that OSCOTEC Inc. licensed to Yuhan Corporation—totaled approximately 20 billion won, a 1.9-fold increase from the approximately 10.5 billion won recorded in the first half of last year.

Amid these substantial technology transfer revenues, research and development (R&D) investment expanded. OSCOTEC Inc.’s R&D expenses recognized in the first half totaled 15 billion won, a 20.6% increase from the 12.5 billion won recorded in the same period last year.

Financial capacity also grew. As of the end of the first half, OSCOTEC Inc.’s cash and cash equivalents stood at 32.4 billion won, and short-term financial assets at 178.3 billion won, bringing total liquid assets to 210.7 billion won. This represents nearly a twofold increase from the 108.1 billion won recorded at the end of last year.

OSCOTEC Inc. plans to utilize the secured funds to continue investing in its own R&D. The company intends to continue developing its follow-on pipeline, including the Phase 1 clinical trial for OCT-598 and OCT-648, while also expanding its research workforce.

An OSCOTEC Inc. official stated, "Based on the funds and liquidity secured through recent technology transfer and commercialization achievements, we plan to proceed with the R&D of our core follow-on pipeline without any delays," adding, "We currently have a structure in place that allows us to pursue our own R&D investments and scale expansion without the need for additional fundraising."

(Press release, Oscotec, AUG 14, 2026, View Source [SID1234670962])

CASI Pharmaceuticals Announces First Half 2026 Business and Financial Results

On August 14, 2026 CASI Pharmaceuticals, Inc. (OTCQB:CASIF), a clinical-stage biopharmaceutical company developing CID-103, an anti-CD38 monoclonal antibody, for patients with antibody-mediated rejection (AMR) in organ transplant and various autoimmune diseases, reported business and financial results for the first half year ended June 30, 2026.

"We remained focused on advancing the development of our lead program, CID-103," said Dr. Wei-Wu He, Executive Chairman and Principal Executive Officer of CASI. "We dosed the first patient in the Phase 1/2 trial evaluating the safety and tolerability of CID-103 in adult patients with active and chronic active renal allograft antibody-mediated rejection (AMR) in China. We also completed the enrollment of Part A (the dose-escalation part) of our ongoing Phase 1/2 study in immune thrombocytopenia (ITP), with the maximum tested dose of 1,200 mg."

Business Highlights

Program Updates and Upcoming Milestones

CID-103 for Antibody-Mediated Rejection (AMR) for Renal Allografts

Approval of clinical trial application by China NMPA for Phase 1/2 study

First patient dosed in Phase 1/2 study in China

CID-103 for Immune Thrombocytopenia (ITP)

Completed enrollment in Part A, the dose-escalation part, of the ongoing Phase 1/2 study, with the maximum tested dose of 1,200 mg

Corporate

Completed $15 million convertible note financing pursuant to certain convertible note purchase agreement with ETP Global III Fund LP, a partnership controlled by Dr. Wei-Wu He

Dr. Wei-Wu He, Ph.D., assumed the role of the Company’s principal executive officer while continuing to serve as Executive Chairman

Subsequent to quarter-end, received a favorable final award in the Juventas arbitration, pursuant to which the tribunal rejected all of Juventas’s allegations of breach, determined that Juventas had wrongfully terminated the relevant agreements, and awarded the Company amounts totaling well over RMB 100 million

Entered into a Settlement Agreement with Acrotech Biopharma Inc., pursuant to which the prior purported termination of the EVOMELA license and related agreements was rescinded and the agreements remain in full force and effect, subject to certain revisions

Ordinary shares began to be quoted for trading on the OTCQB market under the ticker CASIF

First Half 2026 Financial Highlights

Revenues for the first half of 2026 were $9.8 million, representing a 5.8% decrease compared to $10.4 million in the same period last year. The decline in revenue was primarily attributable to the product transition from EVOMELA to the locally manufactured MAFALAN, which remains in its market‑expansion phase.

Cost of revenue for the first half of 2026 was $2.2 million, representing a 53.2% decrease compared to $4.7 million in the same period last year. The decrease was mainly attributable to lower unit cost for MAFALAN than that of EVOMELA.

Research and development expenses for the first half of 2026 were $2.3 million, representing a 37.8% decrease compared to $3.7 million in the same period last year. The decrease was mainly attributable to decreased clinical studies costs for our pipeline products, as well as decreased labor cost.

General and administrative expenses for the first half of 2026 were $14.3 million, representing a 3.6% increase compared to $13.8 million in the same period last year. The increase was mainly attributable to increased legal fees, partially offset by decreased labor cost.

Selling and marketing expenses for the first half of 2026 were $7.5 million, representing an 18.5% decrease compared to $9.2 million in the same period last year. The decrease was mainly attributable to decreased labor cost and decreased travel and conference fees.

Net loss for the first half of 2026 was $20.0 million, compared to $24.1 million in the same period last year.

As of June 30, 2026, cash and cash equivalents of the Company was $3.8 million, compared to $5.6 million as of December 31, 2025.

As of June 30, 2026, total outstanding shares of the Company were 20,555,873.

Nasdaq Delisting and OTCQB Quotation

On February 23, 2026, the Company received a determination letter from the Hearings Panel of The Nasdaq Stock Market notifying the Company that the Panel had determined to delist the Company’s securities due to the Company’s failure to satisfy Nasdaq’s continued listing requirements. As a result, trading in the Company’s securities was suspended at the opening of business on February 26, 2026. On June 23, 2026, Nasdaq filed Form 25 in relation to such delisting decision.

On April 14, 2026, the Company’s ordinary shares began to be quoted for trading on the OTCQB market under the ticker CASIF.

Entry into a Material Definitive Agreement

On August 14, 2026 (the "Closing"), Werewolf Therapeutics, Inc. (the "Company") reported to have entered into an asset purchase agreement (the "Purchase Agreement") with EMD Serono Research & Development Institute Inc. ("EMD"), pursuant to which, and subject to the terms and conditions thereof, the Company sold to EMD (the "Asset Sale") technology comprising (i) its pre-clinical INDUCER platform, including all patents and know-how related thereto, pre-clinical compounds and related intangible assets, and (ii) its INDUKINE platform, including certain patents, certain know-how related thereto, and pre-clinical compounds, excluding the clinical development programs for WTX-124 and WTX-330 (collectively, the "Transferred Assets"). The Company retains all rights necessary for the continued development of its WTX-124 and WTX-330 clinical programs.

Pursuant to the Purchase Agreement and related ancillary agreements, in consideration for the Transferred Assets, EMD agreed to pay to the Company upfront consideration of $28.0 million and an additional $5.0 million upon the completion of the transfer of the Transferred Assets technology.

The Purchase Agreement contains customary representations, warranties and covenants of each of the Company and EMD. The Purchase Agreement further provides that, subject to certain limitations, the Company and EMD will each indemnify the other for certain losses arising from such breaches of representations, warranties and covenants and liabilities allocated to such party pursuant to the terms of the Purchase Agreement.

In addition, the Purchase Agreement contains a non-competition covenant pursuant to which the Company agreed not to exploit certain compounds, products or programs claimed in the Transferred Intellectual Property (as defined in the Purchase Agreement) that are directed to the same tumor target as any Transferred Compound (as defined in the Purchase Agreement) for a period of twenty-four (24) months after the Closing, subject to customary exceptions for change of control transactions.

The foregoing description of the terms of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the terms and conditions of the Purchase Agreement, a copy of which the Company intends to file with a subsequent Securities and Exchange Commission report.

Simultaneously with the execution of the Purchase Agreement, on August 14, 2026 the Company entered into a license agreement (the "License Agreement") with EMD pursuant to which EMD granted the Company an exclusive license to certain patents included in the Transferred Assets that enable the Company to exploit and perform clinical development programs for WTX-124 and WTX-330.

Additionally, under the License Agreement, EMD granted to the Company certain licenses to enable the Company to grant certain licenses to (i) Harpoon Therapeutics, Inc. ("Harpoon") under that certain Second Amended and Restated Assignment and License Agreement between the Company and Harpoon dated December 20, 2019 (the "Harpoon License") and (ii) Jazz Pharmaceuticals Ireland Limited ("Jazz") under the Company’s existing license agreement with Jazz that was entered into in connection with that certain Asset Purchase Agreement dated as of May 7, 2026 by and between the Company and Jazz, under which the Company has granted a non-exclusive license to certain technology originally licensed to the Company under the Harpoon License.

The foregoing description of the terms of the License Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the License Agreement, a copy of which the Company intends to file with a subsequent Securities and Exchange Commission report.

(Filing, Werewolf Therapeutics, AUG 14, 2026, View Source [SID1234670253])

Tvardi Therapeutics Announces Second Quarter 2026 Results and Provides Business Update

On August 14, 2026 Tvardi Therapeutics, Inc. ("Tvardi" or the "Company") (NASDAQ: TVRD), a clinical-stage biopharmaceutical company focused on the development of novel, oral, small molecule therapies targeting STAT3 to treat inflammatory and proliferative diseases, reported its ﬁnancial and operating results for the second quarter ended June 30, 2026, and provided a business update.

Recent Developments

Reported topline results from the healthy volunteer study of its next-generation STAT3 inhibitor, TTI-109, confirming prodrug design, improved tolerability and pharmacodynamic evidence of STAT3 target engagement.
TTI-109 delivered TTI-101-equivalent exposure with improved tolerability and, across the active dose range, reductions in cellular and humoral immune populations known to correlate with UC disease severity.
Selected UC as the initial disease indication for TTI-109, based on its ability to modulate multiple pathogenic pathways downstream of STAT3 simultaneously.
In UC, STAT3 acts as a single convergent node downstream of multiple signaling pathways implicated in disease progression, integrating immune dysregulation, inflammation and tissue remodeling.
These findings are further supported by published clinical studies linking reductions in activated STAT3 with higher rates of clinical remission across multiple UC therapeutic classes.
UC represents a large, underserved market, with more than 1.25 million patients diagnosed in the U.S. and an addressable market of approximately $3 billion in the U.S. and $9 billion globally.
Announced that the Company will host a KOL webinar on the clinical potential of TTI-109 in UC featuring Randy Longman, MD, PhD (Weill Cornell Medicine) on August 19, 2026, at 11:00 a.m. ET.
Imran Alibhai, Ph.D., Chief Executive Officer of Tvardi, stated, "Since our last quarterly report, we have made significant progress in the clinical development of our STAT3 inhibitors. Regarding our next-generation STAT3 inhibitor, TTI-109, we were enthusiastic to see modulation of disease-relevant immune cell population even in healthy volunteers. We believe this bodes well for the development of TTI-109 in inflammatory and proliferative diseases, like UC."

Key Upcoming Milestones

August 19, 2026: KOL webinar with Randy Longman, M.D., Ph.D., on the UC treatment landscape and TTI-109. To register, please click here
4Q 2026: TTI-101 Phase 1b/2 HCC topline data
2027: Initiation of clinical trial of TTI-109 in UC, subject to clearance of Investigational New Drug (IND) application and additional funding
Second Quarter 2026 Financial Results

Research and development expenses for the three months ended June 30, 2026, were $4.0 million as compared to $5.8 million for the comparable period in 2025. The decrease was primarily driven by lower clinical costs associated with TTI-101, partially offset by higher development costs associated with TTI-109.

General and administrative expenses were $2.6 million for the three months ended June 30, 2026, as compared to $3.1 million for the three months ended June 30, 2025. The decrease was primarily driven by lower professional fees, reflecting higher accounting and consulting costs in the comparable 2025 period associated with the Company’s April 2025 merger, partially offset by higher legal and investor relations costs associated with operating as a public company.

Net loss for the three months ended June 30, 2026, was $6.5 million, compared to net income of $4.2 million for the three months ended June 30, 2025. Net income in the prior-year period reflected a $12.7 million non-cash gain from the change in fair value of the Company’s convertible notes, which converted into common stock in connection with the Company’s merger with Cara Therapeutics in April 2025.

Basic and diluted net loss per share attributable to common shareholders for the three months ended June 30, 2026, were both $(0.69). Basic net income per share attributable to common shareholders for the three months ended June 30, 2025 was $0.51, and diluted net loss per share for the same period was $(1.00), reflecting the dilutive impact of the Company’s convertible notes prior to their conversion into common stock in April 2025.

Cash, cash equivalents and short-term investments as of June 30, 2026, were $15.8 million, as compared to $30.8 million as of December 31, 2025. Tvardi anticipates that its existing cash, cash equivalents and short-term investments will be sufficient to fund operations, as currently planned, through the HCC topline readout into the third quarter of 2027. Advancing TTI-109 into UC and additional indications will require additional funding and IND clearance.

(Press release, Tvardi Therapeutics, AUG 14, 2026, View Source [SID1234670151])

Adlai Nortye Ltd. Reports Unaudited First Half 2026 Financial Results and Highlights Recent Operational Progress

On August 14, 2026 Adlai Nortye Ltd. (NASDAQ: ANL) (the "Company" or "Adlai Nortye"), a clinical-stage biotechnology company focused on the development of innovative cancer therapies, reported its business highlights and its first half financial results for the period ended June 30, 2026.

"We continue to execute well across our pipeline, with initial clinical data on track for both of our pan-RAS(ON) inhibitor-based assets in 2027," said Yang Lu, CEO and Chairman of Adlai Nortye. "In alignment with our goal of rapidly bringing a solution to cancer patients in the U.S. and globally, we are advancing our globalization strategy by expanding our clinical development, strategic, and operational capabilities in the United States and Singapore. This expansion will help to accelerate our clinical pipeline progress and strengthen our clinical operations to support our RAS program development. We believe these efforts will support the efficient global development of our pipeline and position the Company for long-term growth."

Research & Development (R&D) Highlights

AN9025

AN9025, an oral small molecule pan-RAS(ON) inhibitor with best-in-class potential, continues to be evaluated in a global Phase I clinical trial of patients with advanced or metastatic solid tumors harboring RAS mutations.

In February 2026, the first patient was dosed in the once-daily (QD) arm in the U.S.

In July 2026, the first patient was dosed in the intermittent once-weekly (QW) arm in the U.S.

Both the QD and QW dosing arms are enrolling concurrently in the U.S. and China.

Additional clinical trial sites in the U.S. will be activated in second half of 2026, in preparation for expansion cohorts.

The Company remains on track to share initial Phase Ia dose escalation data in the first half of 2027 from the QD arm, with a potential early look at the QW arm.
AN4035

AN4035 is a first-in-class RAS-inhibitor antibody drug conjugate (ADC) targeting CEACAM5, with a highly potent pan-RAS(ON) inhibitor payload.

In July 2026, the Company received Human Research Ethics Committee (HREC) approval in Australia for the Phase I clinical trial of AN4035 as monotherapy and in combination with cetuximab, in patients with CEACAM5-enriched, RAS-addicted solid tumors.

Investigational New Drug (IND) submissions to the U.S. FDA and China NMPA are expected to follow.

The Company is on track to dose the first patient with AN4035 in the second half of 2026, and initial clinical data is expected to be available in the second half of 2027.
AN8025

AN8025 is a next-generation tri-specific antibody fusion protein derived from an approved αPD-L1 antibody and fused with functionally optimized CD86 variant and LAG3 variant.

The global Phase I clinical study of AN8025 is currently ongoing in Australia and China.

The Company remains on track to complete dose escalation by the end of 2026.
AN0025

AN0025 is a small molecule EP4 antagonist designed to modulate the tumor microenvironment.

The randomized Phase II ARTEMIS (Augmenting RadioTherapy in REctal Cancer to Minimise Invasive Surgery) study of preoperative AN0025 and chemoradiotherapy combination in rectal cancer has completed enrollment and patient follow-up is ongoing.

The futility analysis of this Phase II study was successfully passed in March 2026, and the topline results are expected in the first half of 2027.
AN4005

AN4005 is an orally available, small-molecule PD-L1 inhibitor that demonstrates antitumor activity by the blockade of PD-1/PD-L1 interaction.

Despite encouraging preliminary results of favorable safety and tolerability in patients with advanced tumors, and preliminary efficacy in a tumor type known to respond to anti-PD-(L)1 therapy, moving forward as part of our strategic pipeline prioritization, we will de-prioritize the development of AN4005 as a monotherapy and remain open for collaboration to explore its potential as a combination partner.

A clinical update from the ongoing expansion cohorts is expected to be presented at the 2026 Society for Immunotherapy of Cancer (SITC) (Free SITC Whitepaper) meeting.
Corporate Highlights

In February 2026, the Company completed an oversubscribed private placement equity financing, raising $140 million, before deducting placement agent fees and other private placement expenses.

In April 2026, the Company completed an oversubscribed private placement equity financing, raising $150 million, before deducting placement agent fees and other expenses.

The Company recently expanded its Scientific Advisory Board with the appointment of two leading medical oncologists, Dr. David Hong of MD Anderson Cancer Center, and Dr. Piro Lito of Memorial Sloan Kettering Cancer Center.
Key Upcoming Milestones

AN9025: Initial Phase Ia clinical data from the QD arm, and possible early look at QW arm, are expected in 1H27

AN4035: Dosing of first patient in global Phase I trial is expected in 2H26, with initial clinical data in 2H27

AN8025: Phase I dose escalation completion expected by YE 2026
First Half Unaudited Financial Results

The consolidated financial statements of the Company are prepared in accordance with IFRS as issued by the International Accounting Standards Board (IASB). The consolidated financial statements are presented in US dollars, the Company’s functional and presentation currency.

As of June 30, 2026, cash and cash equivalents, together with short-term investments at amortized cost, amounted to US$231.9 million, compared with US$8.1 million as of December 31, 2025.

Net cash used in operating activities was US$15.4 million for the six months ended June 30, 2026, compared with US$15.1 million for the six months ended June 30, 2025.

Revenue increased to US$13.1 million for the six months ended June 30, 2026, from nil for the six months ended June 30, 2025, and was entirely attributable to revenue recognized under the Company’s exclusive license agreement with Jiangsu Aosaikang Pharmaceutical Co., Ltd. relating to AN9025, primarily in connection with upfront payments and development milestone achievements.

Research and development expenses decreased by 4% from US$15.2 million for the six months ended June 30, 2025 to US$14.6 million for the six months ended June 30, 2026, primarily due to lower preclinical development costs, as most of the Company’s major research and development programs remained in early-stage development and had not yet advanced into later-stage clinical trials.

General and administrative expenses increased by 43.1% from US$4.1 million for the six months ended June 30, 2025 to US$5.8 million for the six months ended June 30, 2026. The increase was primarily attributable to higher share-based compensation expense associated with the vesting of certain stock options.

Other gains and expenses, net, decreased by 37.1% from US$1.5 million for the six months ended June 30, 2025 to US$0.9 million for the six months ended June 30, 2026, primarily due to a reduction in government grants recognized during the period.

For the reasons described above, the Company’s net loss decreased by 70.9% to US$5.3 million for the six months ended June 30, 2026, from US$18.3 million for the six months ended June 30, 2025.

(Press release, Adlai Nortye Biopharma, AUG 14, 2026, View Source [SID1234670150])