Innovative Pharmaceutical Biotech (HK:0399) has released an update.
Innovative Pharmaceutical Biotech Limited has announced a significant turnaround in its financial results, posting a profit of HK$98,707,000 for the year ended 31 March 2024, compared to a loss of HK$254,671,000 in the previous year. This notable recovery is highlighted by a substantial reduction in finance costs and lower administrative and research expenses. The company’s performance reflects a strong operational improvement, marking a potential interest point for investors in the biotech sector.
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