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CAMBRIDGE, Mass., ROTTERDAM, Netherlands and SHANGHAI, Feb. 13, 2025 /PRNewswire/ -- Harbour BioMed (the "Company"; HKEX: 02142), a global biopharmaceutical company committed to the discovery, development, and commercialization of novel antibody therapeutics focusing on immunology and oncology, today announced the latest business progress and update.
Based on a preliminary review of the Company's unaudited consolidated management accounts for the year ended December 31, 2024, total profit is expected to range between RMB7.3 million and RMB22 million. During this period, the Company achieved a record-high cash profit[1] of RMB220 million, reflecting strong financial health and operational efficiency.
The Company's sustained profitability was primarily driven by:
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The accelerated growth of its unique business model with continued strategic partnerships with global pharmaceutical and leading biotech companies.
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A growing recurring component of its revenue in 2024, including platform-based research revenue and milestone payments as collaboration programs advance.
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Effective cost control and efficient operational management.
In 2025, the Company has repurchased a total of 8,146,000 shares in the open market, amounting to nearly HK$30 million. This reflects confidence in the Company's business outlook and underscores management's view that the current valuation does not fully reflect its intrinsic value.
Dr. Jingsong Wang, Founder, Chairman and CEO of Harbour BioMed, commented: "Harbour BioMed is accelerating its transformation into a sustainably profitable global biotech engine, driven by our proprietary Harbour Mice® platform and differentiated business model. With more than 19 molecules progressing into the IND stage globally through partnerships with multinational pharmaceutical and biotech companies, our platform's value continues to be validated. Our strong financial performance highlights the resilience and scalability of our business. Looking ahead, we remain committed to advancing next-generation antibody technologies to address critical medical needs and deliver long-term value to our stakeholders."
| [1] cash profit: operating net cash inflow |
About Harbour BioMed
Harbour BioMed (HKEX: 02142) is a global biopharmaceutical company committed to the discovery, development, and commercialization of novel antibody therapeutics focusing on immunology and oncology. The Company is building its robust portfolio and differentiated pipeline through internal R&D capability, collaborations with co-discovery and co-development partners, and select acquisitions.