Neuren Pharmaceuticals Posts Sharp Profit Decline

Neuren Pharmaceuticals Limited (AU:NEU) has released an update.

Neuren Pharmaceuticals Ltd reported a significant decrease in profit after tax for the first half of 2024, earning A$8.0 million compared to A$47.8 million in the same period last year, a drop of 83%. Despite a substantial increase in royalty revenue from Acadia, the absence of milestone revenue recognized in the previous year heavily impacted the overall earnings. No dividends were paid or declared, and the company anticipates a future milestone revenue of A$77 million related to DAYBUE sales.

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