Genscript Biotech Reports Strong Profit Surge in 2024

Genscript Biotech Corporation ( (GNNSF) ) has released its Q4 earnings. Here is a breakdown of the information Genscript Biotech Corporation presented to its investors.

Genscript Biotech Corporation is a Cayman Islands-based biotechnology company specializing in life-science services, biologics development, and industrial synthetic biology products, with a significant presence in over 100 countries. In its latest earnings report, Genscript Biotech Corporation announced a revenue increase of 6.1% to approximately $594.5 million for the year ending December 31, 2024, compared to the previous year. The company’s profit surged to approximately $2.9 billion, primarily due to a $3.2 billion gain from the deconsolidation of its cell therapy business. The adjusted net profit from continuing operations rose by 2.9% to $59.8 million. The life-science services and products segment contributed 75.8% of the total revenue, while biologics development services and industrial synthetic biology products accounted for 14.8% and 9.0%, respectively. Looking ahead, Genscript Biotech Corporation remains focused on leveraging its strategic investments and expanding its market presence to drive future growth.