Biocytogen Pharmaceuticals (Beijing) (HKG:2315) expects a net profit of between 27.3 million yuan and 37.3 million yuan for the year 2024, compared with a loss of around 383 million yuan a year prior, a Friday filing with the Hong Kong bourse said.

The pharmaceutical company attributed the anticipated turnaround to profit mainly to a higher sales revenue from the antibody discovery business, a higher revenue contribution from the gene editing animal model business, and a significant decline in R&D investment.