RemeGen Co., Ltd. (HKG:9995, SHA:688331), a leading biopharmaceutical company, saw its shares surge nearly 8% on Tuesday after reporting robust revenue growth in the third quarter, despite posting a net loss for the period.
According to the company's financial results released on Tuesday, RemeGen reported a net loss attributable to shareholders of 291.0 million yuan ($41.1 million) for the quarter ended September 30. However, the company's revenue rose by an impressive 34.6% year-over-year to 467.1 million yuan ($66.0 million), indicating strong underlying business performance.
The positive revenue growth figures appeared to overshadow the net loss concerns, as investors bid up RemeGen's shares in both Hong Kong and Shanghai markets. The company's Hong Kong-listed shares gained 3% in morning trade on Wednesday, while its Shanghai-listed shares rose nearly 4%.
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