This article only represents the author's own views.
A medical breakthrough is only one milestone on a long and uncertain road to mass production and profitability, as evidenced by the latest results from a Chinese biotech pioneer that is developing tailored cancer therapies. Even when an innovative treatment makes it onto the market, questions remain. Will it be covered by health insurance, can it gain a firm foothold, and could its use ultimately be widened to treat a range of conditions?
All these variables apply to JW (Cayman) Therapeutics Co. Ltd. (2126.HK), a pharmaceutical company specializing in developing personalized cancer treatments known as chimeric antigen receptor (CAR-T) therapeutics, which enhance a patient’s own immune defenses to attack tumor cells. The company started to commercialize its products in September 2021 and is now expanding the market for its only CAR-T product to have gained approval so far, relma-cel. Last Tuesday, the company released its first-half financials, which indicated that its operating revenue for the period of 66 million yuan ($9.5 million) stemmed entirely from relma-cel sales, generating a gross profit of 23.13 million yuan.