Company Announcements
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- Genscript Biotech expects a significant net profit increase in 2024 due to a gain from Legend Biotech.
- Future revenue growth anticipated from LaNova’s sublicensing agreement with Merck & Co., Inc.
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Genscript Biotech ( (HK:1548) ) just unveiled an update.
Genscript Biotech Corporation has announced a substantial increase in net profit for the year ending December 31, 2024, compared to the previous year. The increase is attributed primarily to a one-time unrealized gain from the deconsolidation of Legend Biotech and a non-cash fair value loss related to Probio’s preferred shares. Additionally, the company’s non-cell therapy business remained stable, and future revenue growth is expected due to a new agreement involving LaNova sublicensing to Merck & Co., Inc. Shareholders and investors are advised to consult the company’s annual results announcement, expected by March 2025, for detailed financial information.
More about Genscript Biotech
Genscript Biotech Corporation, incorporated in the Cayman Islands, operates in the biotech industry. The company is involved in developing innovative products and services, focusing on areas such as life sciences research and applications.
YTD Price Performance: -2.36%
Average Trading Volume: 5,850
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.29B
For a thorough assessment of 1548 stock, go to TipRanks’ Stock Analysis page.
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