Onconic Therapeutics Q1 Sales Surge 151% Year-on-Year

Onconic Therapeutics continued its solid growth trajectory in the first quarter of this year, driven by the rapid growth of 'Zacubo Tab.', Korea's 37th domestically developed new drug.

On May 11, Onconic Therapeutics announced via a public disclosure that it recorded sales of 22.9 billion won, operating profit of 4.5 billion won, and net profit of 6.4 billion won in the first quarter of this year.

According to this first quarter earnings disclosure, sales increased by 151% compared to the same period last year. Notably, excluding technology transfer revenue, sales of Zacubo increased by 229% year-on-year, with the domestic commercialization performance of its self-developed new drug driving overall growth.

The growth trend also continued compared to the previous quarter. Sales for the first quarter of this year rose by 48% compared to sales of 15.5 billion won in the fourth quarter of last year. Domestic sales of Zacubo likewise increased by 48% during the same period. Although the first quarter typically sees conservative sales due to fewer business days at the beginning of the year, the significant growth compared to the previous quarter demonstrates the ongoing expansion of Zacubo prescriptions and market penetration.

The growth of Zacubo's out-of-hospital prescriptions has also supported the company's overall performance. In just its sixth quarter since launch, Zacubo Tab. achieved out-of-hospital prescription sales of 21.2 billion won in the first quarter, surpassing the 20 billion won mark. Impressively, Zacubo Tab. climbed 93 positions in just over a year to rank 19th among the top domestic prescription drugs, overtaking numerous global blockbuster therapies and quickly proving its market competitiveness. This indicates that Zacubo is not only benefiting from initial launch effects but is also rapidly expanding its prescription base in the domestic gastroesophageal reflux disease (GERD) treatment market, while also providing strong visibility for future global sales growth.

Last year, Onconic Therapeutics recorded annual sales of 53.3 billion won and operating profit of 12.6 billion won, proving its ability to generate revenue based on its own new drug. In just the first quarter of this year, the company already achieved nearly half of last year’s annual sales, further demonstrating the rapid continuation of growth driven by the expansion of Zacubo prescriptions. At the beginning of the year, Onconic Therapeutics presented an annual sales forecast of 111.8 billion won for this year. The strong first quarter results, with continued growth in Zacubo sales and the potential for technology transfer milestones, are viewed as a positive start toward achieving this annual target.

Zacubo is a P-CAB class new drug for gastroesophageal reflux disease, directly developed and approved by Onconic Therapeutics. It was approved in April 2024 as Korea's 37th domestically developed new drug and launched in Korea in October of the same year. Since then, prescription expansion, the addition of new indications, the development of an orally disintegrating tablet formulation, and technology transfers and partnerships in 21 overseas countries have all contributed to enhancing the commercial value of this domestic new drug in both domestic and international markets.

The performance growth of Onconic Therapeutics is particularly noteworthy among domestic biotech companies. While most new drug development biotech companies rely on upfront payments from technology transfer deals or external funding, Onconic Therapeutics consistently generates sales and operating profit based on the commercialization outcomes of its directly approved new drugs.

This business structure is significant in that it allows the company to reinvest cash generated from Zacubo into the development of subsequent pipelines. Currently, the next-generation synthetic lethal dual-target anticancer new drug candidate 'Nesuparib' is in Phase 2 clinical trials for all four indications: pancreatic cancer, endometrial cancer, gastric cancer, and ovarian cancer. Nesuparib has been recognized for its R&D competitiveness through its designation as an orphan drug by the U.S. FDA and presentations at global academic conferences. The commercial success of Zacubo provides a stable financial foundation to drive the development of such follow-up new drugs.

A representative from Onconic Therapeutics commented, "The first quarter results this year are a positive sign toward achieving our annual guidance, as our self-developed and approved new drug Zacubo is growing rapidly," adding, "We will strengthen the 'profit-generating biotech' growth model, similar to Gilead's, by focusing on R&D for subsequent new drugs such as Nesuparib, leveraging our experience with direct blockbuster drug approvals and the cash-generating power secured through Zacubo."

This content was produced with the assistance of AI translation services.