CanSino Biologics First Quarter 2024 Earnings: Misses Expectations

CanSino Biologics (HKG:6185) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥114.3m (up 14% from 1Q 2023).
• Net loss: CN¥170.1m (loss widened by 22% from 1Q 2023).
• CN¥0.69 loss per share (further deteriorated from CN¥0.57 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

CanSino Biologics Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 49%. Earnings per share (EPS) also missed analyst estimates by 112%.

Looking ahead, revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Biotechs industry in Hong Kong.

Performance of the Hong Kong Biotechs industry.

The company's shares are up 16% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for CanSino Biologics that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.