Summary by Moomoo AI
Genscript Bio Limited ('Genscript') has announced its interim financial results for the six months ended June 30, 2024. The report shows that the company's revenue was approximately $561.4 million, an increase of 43.5% compared to $391.3 million in the same period last year. Gross profit also increased from approximately $175.0 million in the previous period to approximately $307.0 million, a growth of 75.4%. However, the company's loss for the period narrowed to approximately $215.6 million, compared to a loss of approximately $245.8 million in the previous period. Genscript stated that the revenue growth was mainly due to the growth of its core businesses, including life science services and products, biologics development services, industrial synthetic biology products, and cell therapy. The company did not declare any interim dividends during the reporting period and granted 68,054 restricted share units to consultants after the reporting period to incentivize them to continue providing services to the company.
