tiprankstipranks
Avecho Biotech Reports Decreased Revenue and Rising Losses
Company Announcements

Avecho Biotech Reports Decreased Revenue and Rising Losses

Avecho Biotechnology Limited (AU:AVE) has released an update.

Don't Miss our Black Friday Offers:

Avecho Biotechnology Limited reports a 30.1% drop in revenue to $312,187 and a 2.2% increase in losses to $2,175,251 for the half-year ended June 30, 2024, compared to the previous year. The decline in sales is mainly due to reduced Vital ET® sales to Ashland, while R&D expenses rose by 9% as the company advanced into Phase-III trials for its CBD soft-gel capsule for insomnia treatment. Despite higher R&D tax incentives, the company saw its net assets and working capital decrease, with no dividends declared during the period.

For further insights into AU:AVE stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Australian Auto-Generated NewsdeskAvecho Biotechnology Expands Trials and Manufacturing
TipRanks Australian Auto-Generated NewsdeskAvecho Biotech Advances Insomnia Treatment Trial
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App