Genor Biopharma Reports 2024 Financial Results and Strategic Merger with Edding

Genor Biopharma Holdings Limited ( (HK:6998) ) has provided an update.

Genor Biopharma Holdings Limited announced its annual results for 2024, reporting a significant increase in revenue to approximately RMB206.2 million, primarily due to license and stock purchase agreements. The company also reported a decrease in research and development expenses and a total comprehensive loss of approximately RMB51.5 million, down from RMB676.0 million in 2023. Genor has optimized its structure to adopt an asset-light model, reducing costs and increasing efficiency. It has entered into a merger agreement with Edding, which will result in Edding’s shareholders holding 77% of the enlarged company. This strategic move aims to strengthen Genor’s commercial capabilities and maintain its competitive position in the pharmaceutical industry.

More about Genor Biopharma Holdings Limited

Genor Biopharma Holdings Limited is engaged in the development and commercialization of oncology and autoimmune drugs, with a focus on providing innovative therapeutics initially for patients in China and gradually for patients globally. The company is building a rich pipeline of drug candidates and is at a critical development stage requiring strong commercial power.

YTD Price Performance: 18.95%

Average Trading Volume: 1,966

Technical Sentiment Signal: Sell

Current Market Cap: €124.9M

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