Summary by Moomoo AI
KYOTO PHARMACEUTICAL-B (KAITO PHARMACEUTICALS CO., LTD.) ANNOUNCED ITS ANNUAL RESULTS ON DECEMBER 31, 2023. R&D COSTS DECREASED BY RMB 489.2 MILLION COMPARED TO THE SAME PERIOD LAST YEAR, DOWN BY 66.6%, MAINLY DUE TO A DECREASE IN R&D INVESTMENT FOR ITS CORE PRODUCTS KX-826 AND GT20029. Administrative expenses also decreased by RMB45.8 million, down 34.6% due to lower employee remuneration and equity incentive expenses. In the future, the company will focus on the Picco area and strengthen the commercialization of its core products. The year-over-year loss and comprehensive loss totaled RMB1,060.8 million, an increase of $106.4 million over the previous year. THE BOARD OF DIRECTORS RESOLVES NOT TO DISTRIBUTE ANY FINAL DIVIDENDS. The company's shares are listed on the Main Board of the Hong Kong Stock Exchange Limited.