GNI Group reports 519m yen revenue rise, F351 hits trial target

GNI Group reported Q2 revenue of 12,252 million yen, up 519 million yen, driven by record medtech sales. Operating profit fell to -1,179 million yen due to reversal of a 1.6 billion yen loan repayment and increased expenses.

The company's F351 drug achieved its primary endpoint in Phase 3 trials, showing statistically significant improvement in liver fibrosis and inflammation with good safety. GNI Group plans to file for regulatory approval in Q3.

Subsidiary Cullgen's planned NASDAQ listing has been delayed to the second half of the year.