Summary by Moomoo AI
Corning Jerry Biopharmaceuticals (the “Company”) announces audited consolidated results for the year ended December 31, 2023. The report showed that the company's revenue increased from RMB166,845 thousand in 2022 to RMB218,774 thousand in 2023, and gross profit increased from RMB122,638 thousand to RMB163,537 thousand. However, R&D expenses and administrative expenses of RMB407,524 thousand and RMB79,338 thousand, respectively, resulted in a loss of RMB210,593 thousand for the year, a decrease from RMB325,722 thousand in 2022. The Company made significant progress in its drug product pipeline and business operations during the reporting period, including several clinical trials, including KN046, KN026. In addition, the Company completed both old and new sales and subscriptions in February 2023 and received a net proceeds of approximately HK$376.2 million. Shareholders and potential investors should exercise caution and note that the Company cannot guarantee that it will be able to successfully develop or ultimately successfully market its core products KN046 and KN026.