Chase Sun Pharmaceutical announced the termination of a research and development project for a new Class 1 chemical drug against hepatitis C. The project had a total budget of 45.6 million yuan. As of June 30, 2026, cumulative investment was only 7.6 million yuan, representing an investment progress of about 16.67 percent. The remaining raised funds of 38 million yuan have been idle for more than 13 years. The company explained that the reasons for termination include significant development risks inherent in the compound itself, such as a lack of support from mature in vivo efficacy models, high cytotoxicity, and a narrow therapeutic window, as well as fundamental changes in the external competitive landscape. Currently, NS5A and NS5B inhibitors have become the core clinical treatment regimen for hepatitis C, and continued development no longer holds clinical significance. Chase Sun Pharmaceutical's performance has been declining in recent years, with both revenue and net profit falling for four consecutive years from 2022 to 2025. Net profit in 2025 was only 18.4951 million yuan, evaporating by more than 97 percent compared with 687 million yuan in 2021. The company simultaneously closed six investment projects, including this one, and plans to permanently replenish working capital with the remaining raised funds of 105 million yuan.
Tianjin Chase Sun Pharmaceutical Co LtdTerminated hepatitis C drug project due to development risks and changed competitive landscape, wasting 38 million yuan idle for 13 years.