Harbour BioMed Announces Positive Profit Alert for 2024 Interim Results
Based on a preliminary review of the Company's unaudited consolidated management accounts for the Reporting Period, total profit is expected to be between
Despite the anticipated decrease in profit for the Reporting Period compared to HY2023, the Company emphasizes that it expects to maintain an overall profit for the Reporting Period. This optimistic outlook is primarily attributable to:
- A stable source of income and a diverse revenue mix. The milestone payments received from existing out-licensing and collaboration of innovative products from the Company's portfolio contributed significantly to the revenue for the Reporting Period.
- Various new Licensing and Collaboration Agreements centered on innovative products and cutting-edge antibody discovery technology.
- Consistent enhanced cost control in business operations.
Dr.
About Harbour BioMed
Harbour
The proprietary antibody technology platforms Harbour Mice® generates fully human monoclonal antibodies in two heavy and two light chains (H2L2) format, as well as heavy chain only (HCAb) format. Building upon the HCAb antibodies, the HCAb-based immune cell engagers (HBICE®) bispecific antibody technology is capable of delivering tumor-killing effects unachievable by traditional combination therapies. Integrating Harbour Mice®, and HBICE® with a single B cell cloning platform, our antibody discovery engine is highly unique and efficient for the development of next-generation therapeutic antibodies. For further information, please refer to www.harbourbiomed.com.
Statement
The information contained in this press release is only a preliminary assessment by the Board based on the unaudited consolidated management accounts of the Company and its subsidiaries for the six months ended June 30, 2024 currently available to the Company, and is not based on any figures or information which have been reviewed or confirmed by the audit committee of the Board, or reviewed or audited by the auditors of the Company. The actual results for the six months ended June 30, 2024 may differ from those disclosed in this press release. As such, the above figures are strictly for information only and not for any other purposes.
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SOURCE Harbour BioMed