Shares of Immunotech Biopharm (HKG:6978) plummeted 5.39% in intraday trading on Tuesday, despite the company reporting narrowed losses for the fiscal year 2024. The sharp decline suggests that investors may have been expecting more robust financial improvements or were disappointed by the absence of dividend payments.
According to the company's latest financial disclosure, Immunotech Biopharm's loss attributable to owners in 2024 decreased to 186.9 million yuan (0.36 yuan per share), compared to 334.8 million yuan (0.65 yuan per share) in the previous year. While this represents a significant improvement in the company's financial performance, it appears that market expectations were set higher, leading to the sell-off.
The biopharmaceutical firm did report a substantial increase in other income, which surged 220% to 33.8 million yuan from 10.5 million yuan year-over-year. However, the company's decision not to recommend any dividend for the period may have further disappointed investors, contributing to the stock's decline. As Immunotech Biopharm continues to navigate the challenging landscape of biopharmaceutical development, investors seem to be reassessing the company's near-term prospects and valuation.
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