Reported Earnings • Aug 14
Second quarter 2026 earnings: Revenues and EPS in line with analyst expectations Second quarter 2026 results: NT$0.27 loss per share (further deteriorated from NT$0.22 loss in 2Q 2025). Revenue: NT$155.8m (up 13% from 2Q 2025). Net loss: NT$72.7m (loss widened 22% from 2Q 2025). Revenue is forecast to grow 2.7% p.a. on average during the next 2 years, compared to a 28% growth forecast for the Biotechs industry in Taiwan. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. New Risk • Aug 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 45% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 45% per year for the foreseeable future. Minor Risk Currently unprofitable and not forecast to become profitable next year (NT$230m net loss next year). Announcement • Jul 08
TaiMed Biologics Receives TFDA Drug License Collection Notice For Trogarzo And Advances TMB-365/380 Clinical Development TaiMed Biologics announced that its HIV therapy Trogarzo has officially received a Drug License Collection Notice from the Taiwan Food and Drug Administration (TFDA). Its commercialization partner, Orient EuroPharma Co. Ltd. (TPEX: 4120), will complete the required procedures to obtain the drug license in accordance with TFDA regulations, marking the final step toward the commercial launch of Trogarzo in Taiwan. Trogarzo received a TFDA Approval Letter in June this year, formally approving its English and Chinese product names and therapeutic indication. Receipt of the TFDA Drug License Collection Notice signifies that the regulatory review process has been completed. Upon completion of the drug license issuance procedures and other commercialization preparations by Orient EuroPharma, Trogarzo will be officially launched in Taiwan, providing a new treatment option for patients living with multidrug-resistant HIV-1 infection. Trogarzo (ibalizumab) is the world's first and currently the only CD4-directed monoclonal antibody approved for the treatment of HIV. It is indicated, in combination with other antiretroviral agents, for the treatment of adults with multidrug-resistant HIV-1 infection who are heavily treatment-experienced and whose current antiretroviral regimen is failing. Trogarzo has received approval from the U.S. Food and Drug Administration (FDA) in both intravenous infusion (IV infusion) and intravenous push (IV Push) formulations. TaiMed is also actively pursuing regulatory approvals in additional countries and regions to further expand its global commercial footprint. TaiMed noted that it entered into an exclusive commercialization and distribution agreement with Orient EuroPharma for the Taiwan market in May 2024. Under the agreement, TaiMed is responsible for product supply, while Orient EuroPharma is responsible for regulatory registration, marketing, and commercialization. With its extensive experience in infectious disease and specialty pharmaceuticals, together with its well-established hospital network, Orient EuroPharma is well positioned to accelerate Trogarzo's market introduction in Taiwan and improve patient access to this innovative therapy. TaiMed further noted that although Trogarzo primarily addresses the relatively small salvage-treatment market for patients with multidrug-resistant HIV, the product offers a highly differentiated clinical profile and has established a solid commercial foundation, continuing to contribute stable revenue to the Company. In the first quarter of this year, TaiMed successfully achieved profitability, marking a return to positive earnings and demonstrating the success of its Trogarzo commercialization strategy and global market expansion. Beyond Trogarzo, TaiMed is actively advancing the global clinical development of its next-generation long-acting dual broadly neutralizing antibody (bNAb) HIV therapy, TMB-365/380. The program completed Last Patient In (LPI) for its Phase 2b clinical trial in May 2026 and is expected to reach its interim data readout by the end of this year. Designed for once-every-two-month (Q2M) dosing, TMB-365/380 has the potential to become the world's first long-acting HIV antibody regimen that does not require viral susceptibility screening prior to treatment initiation, targeting the substantially larger first-line HIV maintenance therapy market. 
