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YS Biopharma Co., Ltd. (NASDAQ: YS) reports preliminary FY2023 revenues of approximately $103 million, reflecting a robust 30% year-over-year growth. Gross margin stands at over 76%, bolstered by strong vaccine sales amidst uncertain economic conditions. Cash and equivalents have increased to $53 million from $42.7 million a year prior. The company maintains approximately 93,058,197 ordinary shares outstanding.
CEO Dr. David Shao highlights the growing demand for their rabies vaccine, anticipating continued revenue growth as social activities resume post-pandemic. The results are preliminary and subject to audit, with caution against relying solely on these figures.
YS Biopharma (Nasdaq: YS) has announced positive interim results from its Phase II study of the PIKA recombinant COVID-19 Vaccine. The vaccine demonstrated superior immunogenicity compared to an inactivated COVID-19 vaccine, achieving statistical significance in both primary and secondary endpoints. Notably, the geometric mean titers (GMT) of neutralizing antibodies against the Omicron variant were significantly higher on Day 7 and Day 14 post-vaccination. The study, conducted across multiple countries, included 300 subjects in Phase II. No significant safety issues were reported, and the results are expected to support further development and eventual publication in peer-reviewed journals.
YS Biopharma, a global biopharmaceutical company, announced the approval of its business combination with Summit Healthcare Acquisition Corp. at a meeting on March 14, 2023. The transaction is expected to close on March 16, 2023, and will result in approximately $36 million of gross proceeds. Following the closure, YS Biopharma's shares and warrants are slated to begin trading on the Nasdaq under the symbols YS and YSBPW on March 17, 2023. YS Biopharma aims to utilize the funds for the clinical development of its PIKA® adjuvanted rabies vaccine and COVID-19 vaccine, enhancing global health initiatives.