FX.co ★ Gyre Therapeutics Posts Loss In 2023

Gyre Therapeutics, Inc. (GYRE) reported a net loss of $85.5 million for the year ending on December 31, 2023. This is a significant drop compared to the net income of $4.3 million they reported in the previous year. The net loss per share was $1.41, which again contrasts heavily with the profit of $0.03 per share in the preceding year.

In terms of revenues for the fiscal year ending on December 31, 2023, Gyre recorded $113.5 million. This revenue was primarily generated from Gyre's controlling interest in Gyre Pharmaceuticals. Revenues for the prior year were slightly lower, at $102.3 million.

As of year-end 2023, Gyre's cash and cash equivalents stood at $33.5 million. This shows an increase from the $25.2 million recorded at year-end 2022.

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