CellSource Cuts Earnings Forecast for Fiscal Year 2024
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%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.