Summary by Futu AI
Tengshengbo Medicine-B (BRII-B) announced its interim performance for the six months ended June 30, 2024. Cash and cash equivalents decreased by 6.9%, mainly due to increased daily operations and research and development expenses. During the same period, other income decreased by 17.5%, mainly due to a reduction in government subsidy income. Research and development expenses decreased by 37.6%, mainly due to pipeline prioritization and organizational optimization. Administrative expenses also decreased by 23.5%, while losses increased by 43.9% during the period, mainly due to fair value losses on financial assets. Other comprehensive income decreased by 80.6%, mainly due to a decrease in exchange gains. The company continues to advance its functional cure project for hepatitis B virus and has obtained IND approval from the Chinese National Medical...Show More