Summary by Moomoo AI
Foundation Medicine-B (Stock Code: 2616) announced its interim financial report for the six months ended June 30, 2024. The report shows that the company recorded revenue of RMB 254.2 million in the reporting period, slightly down from RMB 261.5 million in the same period last year. The net profit for the period was RMB 15.7 million, compared to a loss of RMB 209.2 million in the same period last year, turning the company's performance from loss to profit. In addition, the company's research and development expenses decreased from RMB 186.8 million in the same period last year to RMB 66.2 million, mainly due to reduced milestone costs, third-party contract costs, and employee costs. The company's management remains confident in future development, will continue to advance the research and development of innovative pipeline drugs, and maximize the commercial value of products already on the market.