Cloudbreak Pharma Forecasts Turnaround to H1 Profit; Shares Jump 3%
MT Newswires Live
Aug 26
Cloudbreak Pharma (HKG:2592) expects a pre-tax net profit of at least $4.5 million in the first half of 2025, compared with a pre-tax net loss of $52.1 million a year prior, a late Monday Hong Kong bourse filing said.
Shares of the clinical-stage ophthalmology biotechnology company were up over 3% in Tuesday afternoon trading.
The firm attributed the forecast to a turnaround to positive fair value changes of convertible redeemable preferred shares from negative a year prior, reflecting a one-time fair value adjustment as of June 30.
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