Ocumension Therapeutics Issues Positive Profit Alert for 2022 Annual Results

Feb 14, 2023 11:57 JST

Source: Ocumension Therapeutics

Total Revenue And Gross Profit Expected To Surge Of Between 176% And 183% And 171% to 179% Respectively

HONG KONG, Feb 14, 2023 - (ACN Newswire) - Ocumension Therapeutics ("Ocumension" or the "Company", together with its subsidiaries, collectively the "Group", stock code: 1477), a China-based ophthalmic pharmaceutical platform company, is pleased to announce that it is anticipated that the Company will record a significant increase in its revenue and gross profit for the year ended 31 December 2022 (the "Year 2022").

The Company expects to record a total revenue of approximately RMB 155 million to 159 million for the Year 2022, representing a year-on-year increase of approximately 176% to 183% compared with the total revenue of approximately RMB 56.1 million for the Year 2021. In addition, the total gross profit is approximately RMB 100 million to 103 million, representing a year-on-year increase of approximately 171% to 179% compared with the total gross profit of approximately RMB 36.9 million for the Year 2021.

The increase in the total revenue and the gross profit in 2022 is mainly attributable to the commercialization of the Company's Core Product, OT-401 (fluocinolone intravitreal implant, trade name: Youshiying, as well as the increase in the revenue generated from sales of ophthalmic products, including Ou Qin, brimonidine tartrate eye, among others; and the increase in the revenue generated from the pharmaceutical products promotion services.

Mr. Ye LIU, the Executive Director and CEO of Ocumension Therapeutics said, "With effective quarantine measures taken by the Chinese government to reduce confirmed COVID-19 cases in China, as well as the various precautionary measures implemented by us to adjust our employees' work arrangements in accordance with the relevant regulations and policies, we were able to maintain a sufficient number of personnel to continue working on-site or off-site to ensure minimum disruption to our business operation and R&D activities. Meanwhile, our sales of ophthalmic products were affected by the lockdown of certain areas in China due to the COVID-19 pandemic. However, with the acceleration of expansion to hospitals in regions not subject to the lockdown during the Reporting Period and the continuous increase in sales volume. Ocumension has proven that it was the leader in the R&D of ophthalmic drugs in China, with the commercialization of the Core Product, we will continue moving forward on the path to become a fully integrated leader in the ophthalmic drug industry in China."

About Ocumension Therapeutics
Ocumension Therapeutics is a Chinese ophthalmology platform company dedicated to identifying, developing and commercializing pioneering or best-in-class ophthalmic therapies. The company's vision is to provide world-class drug solutions to meet the huge demand for ophthalmology treatments in China. We believe that our ophthalmology platform with its obvious first-mover advantage will give us a leading position in the ophthalmology industry in China. Up to now, the company has 24 kinds of drug assets in front of the eye and back of the eye, and has established a complete ophthalmic drug product line, six of which have entered phase III clinical trials in China. On July 10, 2020, Ocumension was listed on the main board of the Stock Exchange of Hong Kong Limited (stock code: 01477).

More information about Ocumension Therapeutics: https://www.ocumension.com/

Source: Ocumension Therapeutics
Sectors: BioTech, Healthcare & Pharm