Summary by Moomoo AI
Wa Platinum Pharmaceutical Holdings Limited (“Wa Platinum Pharmaceuticals”) announces results for the year ended 31 December 2023. During the period, the Company's revenue reached $89,502 thousand, an increase of 119.9% year-over-year, primarily due to increases in molecular licensing fees, research service fees and technical licensing fees. R&D expenses decreased 66.6% to $45,081 thousand compared to the same period last year, and administrative expenses decreased 28.6% to $19,498 thousand. The company's profit for the year was $22,763 thousand, compared to a loss of $137,268 thousand in the same period last year. The company did not distribute dividends during the year. As of December 31, 2023, the Company's cash and cash equivalents were $140,324 thousand. During the year, the Company continued to advance several clinical trials, including the development of several products such as bartolitone, prosubaitone, and partnered with several biotech companies to further expand its R&D and commercialization network.