Universe Pharmaceuticals (UPC) has released an update.
Universe Pharmaceuticals has reported a decrease in total assets from $53.3 million to $49.4 million, as well as a shift from a net income to a net loss, with a substantial loss before income tax provision of $12.4 million for the six-month period ending March 31, 2024. This financial downturn is primarily attributed to significant losses in short-term investments and a decrease in revenue compared to the previous year.
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