Wuxi Apptec Stock Price, News & Analysis

WuXi Advanced Therapies announced the launch of Tetracycline-Enabled Self-Silencing Adenovirus (TESSA™) on March 7, 2022. This innovative technology allows for the scalable, transfection-free manufacture of adeno-associated virus (AAV) at GMP grade, significantly reducing costs and increasing accessibility to cell and gene therapies. TESSA™ can produce ten times more AAV in the same volume compared to traditional methods, improving patient access to treatments. WuXi ATU’s integrated services aim to expedite the development and delivery of life-saving therapies globally.

On December 15, 2021, WuXi AppTec reaffirmed its commitment to its platform amidst recent market fluctuations. The company stated that its operations are progressing smoothly and it remains dedicated to serving its global customer base and patients. WuXi AppTec committed to providing updates as necessary, adhering to legal and regulatory requirements. The statement reflects the company's confidence in its business trajectory despite external market pressures.

WuXi AppTec, a global provider of R&D and manufacturing services, has received the 2021 Global CRDMO Customer Value Leadership Award from Frost & Sullivan. This marks the fifth consecutive year of recognition for WuXi AppTec's leadership in innovative services. The award acknowledges the company's exceptional customer value, enabling healthcare innovation through its unique CRDMO and CTDMO business models. These models provide end-to-end services for drug R&D and manufacturing, aiding partners in delivering new treatments efficiently.

WuXi AppTec reported impressive financial results for Q3 2021, with revenue increasing 30.6% year-over-year to RMB5,985 million and net profit rising 36.2% to RMB887 million. The diluted EPS also grew by 30.4% to RMB0.30. Adjusted non-IFRS metrics showed even stronger performance, with net profit up 37.8% to RMB1,358 million and adjusted EPS up 39.4% to RMB0.46. The growth was fueled by strong demand across all business segments, especially in WuXi Chemistry and Testing.

WuXi AppTec reported a significant financial performance for 1H 2021, with revenue growth of 45.7% year-over-year, reaching RMB10,537 million. Net profit attributable to owners surged 55.8% to RMB2,675 million, and diluted EPS rose 46.8% to RMB0.91. Adjusted non-IFRS net profit increased by 67.8% to RMB2,448 million. The company's CDMO services saw remarkable growth of 66.5%, while China-based lab services also performed well, growing by 45.2%. However, U.S.-based laboratory services experienced a 15.7% decline due to COVID-19 impacts.

WuXi AppTec reported a remarkable 55.3% increase in revenue year-over-year, totaling RMB4.95 billion for Q1 2021. Net profit attributable to owners surged 394.9% to RMB1.50 billion, with diluted EPS rising 369.2% to RMB0.61. Adjusted non-IFRS net profit increased 63.6% to RMB943 million. Despite a 15.3% decline in U.S. laboratory services, customer base expansion contributed to the overall growth. Strong performance in China-based services and CDMO segments were key drivers of success.

WuXi AppTec announced strong annual results for 2020, with revenue rising 28.5% year-over-year to RMB16,535 million and net profit attributable to owners increasing 59.6% to RMB2,960 million. The company's diluted EPS grew 56.3% to RMB1.25. Adjusted Non-IFRS results showed a 48.1% rise in net profit to RMB3,565 million. Notably, U.S.-based laboratory services revenue decreased 3.0%, impacted by COVID-19. WuXi AppTec increased its customer base to over 4,200 and plans growth via strategic acquisitions, including OXGENE.

WuXi AppTec has successfully completed its acquisition of OXGENE, a UK-based contract research organization specializing in gene therapy technologies. This acquisition enhances WuXi AppTec's capabilities in offering comprehensive support for cell and gene therapy development. OXGENE will operate as a wholly-owned subsidiary under WuXi Advanced Therapies and will be WuXi ATU's first facility in Europe, allowing for accelerated service offerings and reduced costs in viral vector manufacturing. The strategic move aims to improve accessibility and effectiveness of advanced therapies globally.