bullish
Pharmaessentia Corp (6446 TT): Starts 2024 on Strong Note; Reports First Operating Profit in 1Q24
239 Views25 Jun 2024 22:32
SUMMARY
- Pharmaessentia Corp (6446 TT) reported strong 1Q24 result, with increasing revenue and declining operating expenses. Revenue increased 86% YoY, gross margin (88%) improved, and operating expenses declined 3% YoY.
- The company achieved operating profit (NT$18M) for the first time in 1Q24. Net profit reached NT$330M in 1Q24, versus net profit of NT$315M for 1H23.
- Approval of Besremi in additional countries, especially China, data readouts from late-stage ET trials, and accelerating revenue as well as improving profitability remain the near-term catalysts.
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Rising
Tina Banerjee
Global Healthcare Analyst
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