Non-IFRS Measure:
-- Adjusted loss for the year was RMB713.6 million for the year ended 31
December 2023, representing an increase of RMB696.2 million, primarily
due to increased IFRS loss. Adjusted for one-time gain from Trodelvy
transaction in 2022, loss for the year declined by RMB626.2million due to
growth of product sales and optimization of the organizational structure.
-- Financial Table --
Years Ended December 31
---------------------------
RMB'000 2023 2022
-------------------------------------------- ----------- -------------
Revenue 125,932 12,792
Cost of revenue (34,414) (4,645)
Gross profit 91,518 8,147
General and administrative expenses (165,155) (276,547)
Research and development expenses (540,054) (809,736)
Distribution and selling expenses (231,419) (326,687)
Other income 13,175 4,624
Other (losses)/gains - net (100,803) 1,143,399
Operating loss (932,738) (256,800)
Finance income -- net 84,608 32,887
Fair value change in financial assets at fair
value through profit or loss ("FVPL") 848 (21,748)
Fair value change in financial instruments
issued to investors 2,819 (1,614)
Loss before income tax (844,463) (247,275)
Income tax expense - (8)
Loss for the year (IFRS measure) (844,463) (247,283)
Adjustments to Non-IFRS measure
Loss for the year (Non-IFRS measure) (713,614) (17,426)
Loss for the year (Non-IFRS adjusted for
Trodelvy one- time transaction gain) (713,614) (1,339,733)
---------------------------------------------- ----------- -------------
Conference Call Information
The English session of the conference call will be held at 9:00 AM on March 28, 2024 Beijing Time (9:00 PM U.S. Eastern Time on March 27, 2024) and the Mandarin session of the conference call will be held at 11:00 AM Beijing Time on the same day (11:00 PM U.S. Eastern Time on March 27, 2024).
The conference calls can be accessed by the following links:
For English Session:
Time: 9:00 AM Beijing Time, Thursday, March 28, 2024
Pre-Registration Link: https://www.acecamptech.com/eventDetail/60505757
Webcast Link: https://www.acecamptech.com/meeting_live/70507680/12318?event_id=60505757
Alternatively, participants may dial in to the conference call using below dial-in information:
United States: +1-646-2543594 (EN)
Chinese Mainland: +86-10-58084166 (EN)
+86-10-58084199 $(CN)$
+852-30051313 (EN)
Hong Kong, China: +852-30051355 (CN)
United Kingdom: +44-20-76600166 (EN)
International: +1-866-6363243 (EN)
Password: 886892
For Mandarin Session:
Time: 11:00 AM Beijing Time, Thursday, March 28, 2024
Webcast Link: https://s.comein.cn/AkXE8
Alternatively, participants may dial into the conference call using below dial-in information:
United States: +1-202-5524791
Chinese Mainland: +86-400-188-8938
+86-10-53827720
+86-10-53560182
Hong Kong, China: +852-57006920
Taiwan, China: +886-277031747
Singapore: +65-31586120
United Kingdom: +44-2034816288
Password: 726461
The replay of English session will be available shortly after the call and can be accessed by visiting the Company's website at http://www.everestmedicines.com.
About Everest Medicines
Everest Medicines is a biopharmaceutical company focused on discovering, developing, manufacturing and commercializing transformative pharmaceutical products and vaccines that address critical unmet medical needs for patients in Asian markets. The management team of Everest Medicines has deep expertise and an extensive track record from both leading global pharmaceutical companies and local Chinese pharmaceutical companies in high-quality discovery, clinical development, regulatory affairs, CMC, business development and operations. Everest Medicines has built a portfolio of first-in-disease or best-in-class products in the Company's therapeutic areas of interest including renal diseases, infectious diseases, autoimmune disorders and mRNA platform. For more information, please visit its website at www.everestmedicines.com.
Forward-Looking Statements:
This news release may make statements that constitute forward-looking statements, including descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the business operations and financial condition of the Company, which can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, or other factors, some of which are beyond the control of the Company and are unforeseeable. Therefore, the actual results may differ from those in the forward-looking statements as a result of various factors and assumptions, such as future changes and developments in our business, competitive environment, political, economic, legal and social conditions. The Company or any of its affiliates, directors, officers, advisors or representatives has no obligation and does not undertake to revise forward-looking statements to reflect new information, future events or circumstances after the date of this news release, except as required by law.
View original content:https://www.prnewswire.com/news-releases/everest-medicines-announces-financial-results-for-full-year-ended-december-31-2023-302101804.html
SOURCE Everest Medicines
/CONTACT: Investor Relations: Leah Liu, VP Corporate Affairs, Everest Medicines, IR@everestmedicines.com; Media Inquiries: Jing Yang, Everest Medicines, jing.yang@everestmedicines.com
(END) Dow Jones Newswires
March 27, 2024 18:59 ET (22:59 GMT)
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