[ET Net News Agency, 15 July 2019] Genscript Biotech Corporation (01548) said the group
is expected to record a loss of approximately US$29.4 million to US$44.2 million for the
six months ended 30 June 2019, as compared to a profit of approximately US$17.6 million in
the corresponding period in 2018.
The expected loss of the group was mainly attributable to (1) the substantial increase
in research and development expenses arising from the commencement of clinical trials in
the United States and China in relation to the collaboration between Legend Biotech USA
Inc., Legend Biotech Ireland Limited and Janssen Biotech, Inc. for the development,
manufacturing and commercialisation of a chimeric antigen receptor (CAR) T-cell drug; (2)
the significant increase in the investment in research and development of new cell therapy
pipelines for treating diseases such as haematologic malignancies, solid tumours,
infectious diseases, and autoimmune diseases, and in further enhancement of the integrated
cell therapy platform; and (3) the investment into strengthening the talent pool by
recruiting more experienced personnel and improving the incentive packages of employees.
(RC)