China's Ocumension Therapeutics jumps on robust earnings outlook

Ocumension Therapeutics

14/02/2023 02:33

** Shares of ophthalmic therapies developer Ocumension
Therapeutics  1477.HK  surge as much as 17.9% to HK$13.44, their
highest since Feb. 2
    ** Stock on track for the biggest daily pct gain since debut
in July 2020 if gains hold; biggest pct gainer in the Hang Seng
Composite Index  .HSCI    
    ** Jiangsu-based company expects its 2022 revenue to jump as
much as 183% from the previous year to 159 mln yuan ($23.33 mln)
with gross profit up 179% year-on-year to 103 mln yuan
    ** Says the rise is due to commercialization of core product
and an increase in sales of ophthalmic products 
    ** The Hang Seng Commerce & Industry Index  .HSNC  eases
0.8% while the healthcare index  .HSCIH  drops 2.2%
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both slip 0.3%
($1 = 6.8157 Chinese yuan renminbi)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))