Summary by Futu AI
CLOVER BIO-B (STOCK CODE: 2197) ANNOUNCES ITS ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023 AND PROPOSES TO REVISE THE ORGANIZATION'S ARTICLES OF ASSOCIATION AND ARTICLES OF ASSOCIATION. The Group's loss for the year decreased from RMB24.52 billion in 2022 to RMB1.39 billion and revenue was RMB3925.5 million, mainly from commercial sales in China of SCB-2019 (CpG 1018/ aluminum additives) and four-price seasonal influenza vaccines. Other income and income increased significantly, mainly due to funds received from CEPI. R&D spending and administrative expenses both fell significantly. Cash and bank balances decreased from RMB18.57 billion in 2022 to RMB10.95 billion. The Group has made progress in vaccine development and business operations, including RSV vaccine entering the clinical trial phase and reaching an exclusive agreement with Guokowang Biotechnology to distribute four-price seasonal influenza vaccines in mainland China. The Group was also included in the Hang Seng Innovative Medicines Index during the reporting period.