Summary by Futu AI
Akeso Biopharma (Cayman) Limited ("Akeso Biopharma") announced its interim performance for the six months ended June 30, 2024. During the period, the group's total revenue was RMB 1,024.7 million, a significant decrease compared to RMB 3,676.9 million in the same period last year. Revenue mainly comes from product sales and license fee income, with product revenue of RMB 939.4 million, a year-on-year increase of 23.96%; and license fee income decreased from RMB 2,919.0 million in the same period last year to RMB 85.3 million. Gross profit was RMB 943.2 million, compared to RMB 3,599.7 million in the same period last year. During the period, the company recorded a loss of RMB 249.3 million, while a profit of RMB 2,489.5 million was recorded in the same period last year. Akeso Biopharma continues to advance its research and development and clinical trials of multiple drug projects, and has signed a supplemental license agreement with SUMMIT during the reporting period to expand the global market scope of its products.
