Summary by Moomoo AI
Kaituo Pharmaceutical-B (Kaituo Pharmaceutical Co., Ltd.) released its mid-term report in 2024, covering the financial and business performance highlights of the company. The report indicates that the company's net loss in the first half of 2024 decreased by 140.6 million RMB compared to the same period in 2023, a decrease of 66.3%, mainly due to reduced research and development costs and administrative expenses. The company did not generate revenue from drug sales and decided not to distribute mid-year dividends for the first half of 2024. Kaituo Pharmaceutical-B is actively advancing the clinical development of its core products KX-826 and GT20029 in the dermatology field, and expanding its cosmetic business globally. In addition, the company carried out a share placement in the first half of 2024, raising a net profit of approximately 509.1 million Hong Kong dollars to support the company's expansion plans and growth strategy. During the reporting period, the company's audit committee reviewed the financial statements and discussed accounting principles and policies with management and independent auditors.
