HK Movers | HUTCHMED Collapses 14% After Rev. Slides; ZAI LAB Tumbles over 11% 2Q Rev. Growth Misses

Tiger Newspress
Aug 08

ZAI LAB tumbled over 11% in Hong Kong market.

The group announced its interim results for the period ended June after the market closed yesterday. According to International Financial Reporting Standards, its total revenue leaped by 15.4% YoY to USD217 million, while its net loss narrowed from nearly USD134 million in the same period last fiscal year to USD89.165 million, with a loss per share of US8 cents.

For 2Q alone, the group's total revenue increased by 9% to USD110 million, missing market expectations of nearly USD125 million.

HUTCHMED fell over 14% today.

The company announced yesterday its interim results for the six months ended June. Its total revenue dropped by 9.2% YoY to USD278 million due to lower sales in the mainland market, though its effect was offset by stable revenue from FRUZAQLA.

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