Brief: BB Biotech Q2 Net Loss Of CHF 87 Mln

Bb Biotech

26/07/2024 06:09

July 26 (Reuters) - BB BIOTECH AG  BION.S :
    * A NET LOSS OF CHF 87 MN WAS INCURRED IN Q2 COMPARED TO A
NET
LOSS OF CHF 13 MN IN PRIOR-YEAR PERIOD
    * A NET PROFIT OF CHF 173 MN WAS GENERATED DURING FIRST HALF
OF
2024 COMPARED TO A NET LOSS OF CHF 267 MN IN SAME PERIOD OF 2023
    * BB BIOTECH'S SHARES CLOSED PERIOD 12.0% LOWER IN CHF AND
11.3%
LOWER IN EUR
    * BOARD OF DIRECTORS HAS APPOINTED DR. CHRISTIAN KOCH, ONE
OF TWO
DEPUTY HEADS, AS NEW HEAD OF INVESTMENT MANAGEMENT TEAM
EFFECTIVE JANUARY 1, 2025
    * DR. DANIEL KOLLER, WHO HAS SERVED AS HEAD OF BB BIOTECH'S
INVESTMENT MANAGEMENT TEAM SINCE 2010, HAS INFORMED BOARD OF
DIRECTORS OF HIS INTENTION TO RETIRE FROM HIS POSITION BY END OF
2024
    * TOTAL RETURN OF PORTFOLIO WAS -3.5% IN CHF, -2.6% IN EUR
AND
-3.3% IN USD
    * FOR FIRST SIX MONTHS OF 2024, TOTAL RETURN FOR BB
BIOTECH'S
SHARES WAS -2.0% IN CHF AND -4.6% IN EUR
    * PORTFOLIO PERFORMANCE WAS +7.3% IN CHF, +3.5% IN EUR, AND
+0.4%
IN USD
    * OUTLOOK: UPCOMING PRESIDENTIAL ELECTIONS IN USA COULD ALSO
INFLUENCE SECTOR, PARTICULARLY THROUGH POSSIBLE CHANGES IN
HEALTHCARE POLICY AND DRUG PRICES
    * OUTLOOK: INTEREST RATE DECISIONS REMAIN A PIVOTAL
INFLUENCE ON
BIOTECH INVESTMENTS
    * LEVEL OF INVESTMENT OF 113.5%
    * SHARE PRICE RETURN IN Q2 OF 2024 WAS -12.0% IN CHF AND
-11.3% IN
EUR
    * NET LOSS IN Q2 2024 AMOUNTED TO CHF 87 MN COMPARED TO A
NET LOSS
OF CHF 13 MN IN PRIOR-YEAR PERIOD

Source text for Eikon:  ID:nEQ9RZ8mza 
Further company coverage:  BION.S 

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