Biocytogen Pharmaceuticals (Beijing) (HKG:2315) expects to record a net profit between 20 million yuan and 40 million yuan for 2024, against a loss of 383 million yuan logged for 2023, a Monday Hong Kong bourse filing said.

The pharmaceutical company attributed the expected turnaround to a rapid increase in sales revenue and high gross profit margins from increased sales of antibody molecules to overseas customers, domestic and overseas growth in gene editing animal model business, cost control, and reduced research and development expenses during the reporting year.