Shares of biopharmaceutical company RemeGen Co., Ltd. (HKG:9995, SHA:688331) soared 17.59% on Tuesday, October 30, despite the company reporting a net loss for the third quarter of 2024. The surge came as investors focused on RemeGen's robust revenue growth during the period.
For the quarter ended September 30, RemeGen posted a net loss attributable to shareholders of 291.0 million yuan ($41.1 million). 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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