Summary by Futu AI
Genscript Bio Limited ("Genscript") has released its interim financial report for the six months ending June 30, 2024. The report shows that the company's revenue is approximately $561.4 million, an increase of 43.5% compared to the same period last year's $391.3 million. Gross profit has also increased from approximately $175.0 million in the previous period to approximately $307.0 million, a growth rate of 75.4%. However, the company's loss for the period has narrowed to approximately $215.6 million, compared to a loss of approximately $245.8 million in the previous period. Genscript stated that the revenue growth is mainly due to the growth of its core businesses, including life science services and products, biologics development services, industrial synthetic biology products, and cell therapy. The company did not declare any interim dividends during the reporting period and granted 68,054 restricted stock units to consultants after the reporting period to encourage their continued service to the company.
