Tuesday, May 13, 2025
Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1Q25 Reported With Product Launch and Clinical Trial Updates. Gyre reported Net Income of $3.7 million with Net Income Attributable to Common Shareholders of $2.7 million or $(0.03) per share. Data analysis for the Phase 3 Hydronidone trial in CHB-ALF (chronic hepatitis B-associated liver fibrosis) is ongoing, with a data announcement expected during 2Q25. The company also launched avatrombopag in China and plans to launch nintedanib during 2Q25. The cash balance on March 31, 2025 was $51.3 million.
Product Sales Declined But Gross Margin Was As Expected. Product sales were $22.1 million, a decline from $27.8 million in 4Q24. The decline in sales of Etuary, its drug for ITP, was attributed to the economic conditions in China and the shift in marketing resources away from Etuary and toward the new products, nintedanib and avatrombopag. Gross Margin of 96% was as we expected despite lower product volume.
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