Summary by Moomoo AI
Kaituo Pharmaceuticals-B announced its unaudited interim performance for the six months ended June 30, 2024. Compared with the same period last year, the net loss decreased from 212.1 million RMB to 71.5 million RMB, a decrease of 66.3%. The decrease was mainly due to the reduction in research and development costs and administrative expenses. Research and development costs decreased from 164.6 million RMB to 39.3 million RMB, a decrease of 76.1%, mainly due to the group's increased focus on core dermatology pipeline investment, while the investment in oncology pipeline decreased significantly. Administrative expenses decreased from 51.2 million RMB to 33.9 million RMB, a decrease of 33.8%, mainly due to the reduction in employee benefits and equity-based compensation expenses. The group's cash and cash equivalents, as well as...Show More