Shengnuo Pharmaceutical-B (02257) announced its annual results for the year ended December 31, 2023. The group...
According to the Zhitong Finance App, Shengnuo Pharmaceutical-B (02257) announced its annual results for the year ended December 31, 2023. The group obtained additional revenue of US$1,414,000, a year-on-year decrease of 33.11%; shareholders' losses amounted to US$786.91 million, a year-on-year decrease of 10.88%; and a basic loss of US$1.03 per share.
According to the announcement, the reduction in losses was mainly due to reduced R&D expenses; and reduced losses due to changes in fair value of financial liabilities recorded at fair value, partially offset by impairment losses recognized for property, plant and equipment, and right-of-use assets for the year ended December 31, 2023.
The Group continued to make significant progress in pipeline development and business development during the first three months of 2023 and 2024 until the date of this announcement. In view of global macroeconomic uncertainty, to ensure sufficient cash reserves, the Group has prioritized the allocation of resources to high-potential projects and has suspended or slowed the development of other projects. The Group has also carried out three rounds of restructuring in 2023 and the beginning of the year to date to optimize the Group's work team.