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BUZZ-Genscript Biotech hits 6-week peak on forecasting H1 return to profit

Reuters
07/22
BUZZ-Genscript Biotech hits 6-week peak on forecasting H1 return to profit

** Shares of Genscript Biotech Corp 1548.HK jump 8.3% to HK$17.78, their highest since June 11

** Stock on course for the biggest one-day pct gain since June 9; fifth biggest pct gainer on healthcare index .HSCIH, which is up 0.5%

** The bioscience research group expects its H1 profit before tax to be in $175.4 mln-$204.6 mln range, as compared to $127.9 mln loss the same period a year ago, thanks to an increase in license revenue among others

** Hang Seng Biotech Index .HSHKBIO climbs 0.7%, Hang Seng Index .HSI gains 0.3%

** YTD, stock up 74.8%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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