Summary by Moomoo AI
Ascletis-B Co., Ltd. (ASCLETIS-B) announced the unaudited interim performance for the six months ended June 30, 2024. During the period, the company's revenue decreased 100% to zero from approximately RMB 46.5 million in the same period of 2023, mainly due to the effective control of the COVID-19 epidemic in mainland China and the contraction of demand for the Letermovir product market. Research and development costs increased by 43.5% to approximately RMB 132.4 million from approximately RMB 92.3 million, resulting in a loss in the period of approximately RMB 130.3 million, an increase of 687.0% from approximately RMB 16.6 million. The company has cash and cash equivalents, time deposits, etc. totaling approximately RMB 2,117.2 million, which is expected to support research and development activities and operations until 2028. Progress during the reporting period includes completing clinical trials for NASH patients and releasing clinical trial results for acne treatment. The board of directors does not recommend the distribution of interim dividends.
