Summary by Moomoo AI
Cornerstone Pharmaceuticals-B (2616) announced its interim performance for the six months ended June 30, 2024, as a brief summary of unaudited comprehensive performance. The company's revenue was RMB 254.2 million, a decrease of 2.8% compared to the same period last year. Among them, pharmaceutical sales revenue decreased by RMB 128.6 million, but licensing fee revenue increased by RMB 122.6 million. Research and development expenses decreased significantly by RMB 120.6 million to RMB 66.2 million, mainly due to the reduction in milestone expenses, third-party contract costs, and employee costs. Administrative expenses also decreased by RMB 42.5 million to RMB 46.7 million. During the period, the company turned from loss to profit, recording a profit of RMB 15.7 million. Shuliji Monoclonal Antibody has been approved for first-line treatment in adult patients with metastatic non-small cell lung cancer in the European Union, and a strategic commercialization partnership has been reached with Ewopharma AG. The company will hold an interim performance conference call on August 26, 2024. The board of directors does not recommend the payment of interim dividends.
