BB Biotech Q2 Net Loss Of CHF 87 Mln
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
(Gdansk Newsroom)
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