Biocytogen Pharmaceuticals Forecasts Return to Profit in H1
MT Newswires Live
Aug 04
Biocytogen Pharmaceuticals (HKG:2315) forecasts it will return to a net profit of between 42.7 million yuan and 52.7 million yuan in the first half, from a loss of 50.7 million yuan in the year-ago period, according to a Monday filing with the Hong Kong bourse.
Revenue is expected to rise 50% to 53% to between 616 million yuan and 626 million yuan, from 410.5 million yuan in the prior-year period.
The upbeat forecast is attributable to its overseas expansion, as well as "rapid growth" in its preclinical and service business segments, the filing said.
The drug developer's shares closed 4% higher on Monday.
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