Genscript Biotech (HKG:1548) returned to an attributable profit of $2.96 billion in 2024, compared with a loss of $95.5 million in the prior year, according to a Wednesday filing with the Hong Kong bourse.

The recovery came as the company booked a $3.2 billion gain from the deconsolidation of its cell therapy business.

Earnings per share were $1.3597, compared with a loss per share of $0.0453 a year ago. Seven visible Alpha analysts expected a loss per share of $0.07.

Revenue for the year rose 6.1% to $594.5 million from $560.5 million in the previous year. Visible Alpha estimated an annual revenue of $574.1 million.

The bioscience firm shares were almost 4% down in recent trading.