BUZZ-China's CanSino climbs on forecasting narrowing loss, higher FY revenue

Reuters
01-20
BUZZ-China's CanSino climbs on forecasting narrowing loss, higher FY revenue

** Hong Kong shares of CanSino Biologics Inc 6185.HK climb 2.8% to HK$29, the highest since Jan. 7; on course for third straight session of gains

** Clinical-stage vaccine company estimates its 2024 net loss narrowing to 335-385 mln yuan ($45.80-$52.63 mln) range from 1.48 bln yuan loss in 2023, with revenue amounting to 825-865 mln yuan range, as compared to 2023's 357.1 mln yuan revenue

** "During the reporting period, the group mainly focused on advancing commercialization of the meningococcal conjugate vaccines and the development of non-COVID-19 vaccine candidates" - CanSino

** Shanghai-listed stock 688185.SS rises 2.4% to 58.78 yuan, highest since Jan. 7; set for the second session of rise

** In China, the blue-chip CSI 300 Index .CSI300 gains 0.9% and the Shanghai Composite Index .SSEC adds 0.5%

** In Hong Kong, the healthcare index .HSCIH jumped 2.5% and Hang Seng Index .HSI rises 2.3%

** Last year, CanSino's Hong Kong stock rose 33.8%, while Shanghai shares fell 18.1%

($1 = 7.3148 yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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