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Shanghai Fudan Zhangjiang Bio Pharmaceutical Co ( (HK:1349) ) has provided an update.
Shanghai Fudan Zhangjiang Bio-Pharmaceutical Co. has issued a profit warning, projecting a significant decline in net profit for the year ending December 2024, due to increased R&D expenses. The company has been advancing major projects, with heightened spending on clinical trials, research materials, and other R&D activities, impacting its financial performance. Despite the financial setback, the company has made progress in its R&D pipeline, including the operationalization of a new production base, which may strengthen its market position in the long term.
More about Shanghai Fudan Zhangjiang Bio Pharmaceutical Co
Shanghai Fudan Zhangjiang Bio-Pharmaceutical Co. operates in the biotechnology and pharmaceuticals industry, focusing on research and development of innovative drugs. The company is involved in developing antibody drug conjugates and has recently advanced several R&D projects, including FDA018 and FZ-AD005, which are in clinical trial phases.
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