TOMBIO Biotechnology announced yesterday (25th) that the board of directors had approved the financial report and profit distribution for the previous year (2023). TOMBIO achieved a record-high consolidated revenue of NT$969 million in 2023, a year-on-year increase of 20.84%, mainly driven by smooth sales of key products such as joint injection agents, gynecological anti-adhesion gel, and platelet concentration separation tubes. Operating gross profit for 2023 was NT$480 million, operating profit was NT$22.33 million, and net profit after tax was NT$18.57 million, representing respective growth rates of 7.06%, a decrease of 11.75%, and an increase of 1.69% compared to the previous year, with earnings per share (EPS) of NT$0.35.
TOMBIO stated that in 2022, one-time licensing income artificially inflated the base period. Excluding this factor, the year-on-year growth rate of net profit after tax in 2023 would be as high as 70%, demonstrating the company's ongoing positive development. In addition, TOMBIO's board of directors decided to distribute a cash dividend of NT$0.285 per share after deducting the statutory reserve of 10% per share.
Looking ahead to this year, TOMBIO stated that it will continue to develop or represent new products on existing foundations while expanding into overseas markets. Initially, the focus will be on establishing a presence in the Chinese and Southeast Asian markets. By adjusting promotion and sales strategies, including leveraging distribution partners to maintain existing sales channels and having its marketing team focus on expanding into new markets, TOMBIO aims to optimize revenue structure and strive for overall profit growth to outperform revenue performance.
Ya-Jun Wang, General Manager of TOMBIO, further stated that the company's independently developed "CatCHimera Liver Cancer Detection Platform" has applied to the Taiwan Food and Drug Administration (TFDA) for certification of Laboratory Developed Tests (LDTs) for post-operative tumor recurrence tracking in hepatitis B-related liver cancer. Simultaneously, international licensing or cooperation negotiations are underway, expanding into the high-end precision testing service market.
The "CatCHimera Liver Cancer Detection Platform" for post-operative tumor recurrence tracking in hepatitis B-related liver cancer has completed multi-center clinical trials in Taiwan. The clinical validation results were first presented at the American Association for the Study of Liver Diseases (AASLD 2023) annual meeting in November last year. TOMBIO will present the latest clinical data orally at the 33rd Asia-Pacific Association for the Study of the Liver (APASL 2024) annual meeting held in Kyoto, Japan from March 27th to 31st. Based on known data, even with a slight residual tumor after surgery, CatCHimera can accurately track and differentiate patients at high risk of recurrence, enabling early treatment, thereby reducing the recurrence of liver cancer and improving survival rates. It is expected to fill the current gap in hepatitis B-related liver cancer recurrence detection and become a new generation of precision diagnostic indicators.
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