Keymed Biosciences Faces Steep Revenue Decline

Keymed Biosciences, Inc. (HK:2162) has released an update.

Keymed Biosciences Inc. reports a significant downturn in its interim results for the first half of 2024, with revenue plummeting by 83% and an increase in net loss by 799% compared to the same period in 2023. The company’s research and development expenses rose by 33%, deepening the financial losses. Despite the decline, Keymed maintains a cash reserve, though reduced by 5% from the end of the previous year.

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