CStone Pharmaceuticals (HK:2616) has released an update.
CStone Pharmaceuticals reports a turnaround with a profit of RMB15.7 million for the first half of 2024, after a loss in the previous year, driven by significant reductions in operating costs and a boost in gross profit. Despite a slight decrease in total revenue, the company saw a substantial increase in license fee income and a reduction in expenses across research and development, administrative, and sales and marketing. The positive financial results highlight a promising shift in the company’s performance.
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