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Sep 30, 2024
Gyre Therapeutics Q3 2024 Earnings Report
Gyre Therapeutics' financial results for Q3 2024 were announced, with revenue of $25.5 million and a net income of $2.9 million.
Key Takeaways
Gyre Therapeutics reported a revenue of $25.5 million and a net income of $2.9 million for the third quarter ended September 30, 2024. The company's cash and cash equivalents totaled $15.9 million as of September 30, 2024.
Gyre's pivotal Phase 3 trial in CHB-associated liver fibrosis in the PRC completed with data expected in Q1 2025.
The company is on track to initiate U.S. Phase 2 trial of F351 in MASH-associated liver fibrosis in 2025.
Commercial launch of avatrombopag maleate tablets is expected by the first half of 2025.
Commercial launch of nintedanib is expected in 2025.
Gyre Therapeutics
Gyre Therapeutics
Forward Guidance
Gyre Therapeutics anticipates several milestones in 2025, including commercial launches and clinical trial initiations.
Positive Outlook
- Commercial launch of avatrombopag in the PRC in the first half of 2025.
- Commercial launch of nintedanib in the PRC in 2025.
- Initiation of U.S. Phase 2 trial of F351 in MASH-associated liver fibrosis in 2025.
- Topline data from Phase 3 trial of F351 in CHB-associated liver fibrosis expected in Q1 2025.
- Potential approval of F351 for CHB-associated liver fibrosis in the PRC.
Challenges Ahead
- Decrease in anti-fibrosis drug sales due to fluctuations in the Chinese economy.
- Decrease in generic drug sales due to decreased healthcare spending.
- Increased general and administrative expenses due to costs associated with being a public company.
- Potential delays in clinical trials or regulatory approvals.
- Competition from competing products.