GNI Group’s Subsidiary Gyre Therapeutics Completes Successful Public Offering

GNI Group ( (JP:2160) ) has shared an announcement.

GNI Group Ltd. has announced the successful completion of a public offering by its subsidiary, Gyre Therapeutics, raising approximately $23 million. The proceeds will be used for research and development, manufacturing, and general corporate purposes. This offering slightly reduces GNI’s ownership in Gyre from 83.03% to 80.69%, but Gyre remains a consolidated subsidiary, ensuring no change in the scope of consolidation.

The most recent analyst rating on (JP:2160) stock is a Buy with a Yen3700.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.

More about GNI Group

GNI Group Ltd. operates in the biotechnology industry, focusing on developing therapeutic solutions through its subsidiaries, including Gyre Therapeutics. The company is engaged in research and development, manufacturing, and scale-up activities, with a market focus on innovative medical treatments.

YTD Price Performance: 25.99%

Average Trading Volume: 2,768,593

Technical Sentiment Signal: Buy

Current Market Cap: Yen216.8B

For an in-depth examination of 2160 stock, go to TipRanks’ Stock Analysis page.