RemeGen revenue soars 58.4% despite net loss in 2024

RemeGen Co., Ltd. (HKEX:9995) announced a 58.4% year-on-year increase in operating revenue, reaching RMB1,715,404,200 for 2024. The surge was largely due to increased sales volumes of telitacicept and disitamab vedotin. Despite the revenue growth, the company reported a net loss attributable to owners of the parent of RMB1,467,862,500. Total assets decreased slightly by 0.53% to RMB5,499,147,800, while owner's equity attributable to the parent declined by 42.21% to RMB1,986,386,000. The company expects to record a net loss for 2024 but indicates a trend of loss reduction. Increased R&D expenses due to ongoing drug development contributed to the losses.