CellSource Cuts Earnings Forecast for Fiscal Year 2024

MT Newswires Live

2024/09/12

CellSource (TYO:4880) lowered its earnings forecast for the fiscal year ending Oct. 31 due to a decline in contracts for stem cell processing services, according to a Thursday filing.

The regenerative medical services company said the revised net sales estimate is 4.37 billion yen, down from the previously announced 5.37 billion yen.

Attributable profit forecast was slashed to 417 million yen from 719 million yen.

Operating profit is now expected to be 420 million yen, a significant decrease from the earlier projection of over 1 billion yen.

The company said it is experiencing declining contracts from medical institutions specializing in self-funded treatments.

Price (JPY): $1381.00, Change: $+10, Percent Change: +0.73%

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