{"id":20666,"date":"2023-07-26T21:00:00","date_gmt":"2023-07-26T21:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4167566_AE67566_0"},"modified":"2023-07-26T21:00:00","modified_gmt":"2023-07-26T21:00:00","slug":"ys-biopharma-announces-financial-results-for-fiscal-year-2023-ended-march-31-2023","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=20666","title":{"rendered":"YS Biopharma Announces Financial Results for Fiscal Year 2023 Ended March 31, 2023"},"content":{"rendered":"
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Total revenues increase by 36.3% year-over-year; gross margin improves to 77.7%; balance sheet remains robust<\/p>\n

Company’s PIKA rabies vaccine approved for Phase III clinical trials in Singapore<\/span>, the Philippines<\/span>, and Pakistan<\/span>; interim results expected early next year<\/p>\n

GAITHERSBURG, Md.<\/span>, July 27, 2023<\/span> \/PRNewswire\/ — YS Biopharma Co., Ltd. (NASDAQ: YS) (“YS Biopharma” or the “Company”), a global biopharmaceutical company dedicated to discovering, developing, manufacturing, and delivering new generations of vaccines and therapeutic biologics for infectious diseases and cancer, today announced its financial results for the fiscal year ended March 31, 2023<\/span> (“Fiscal Year 2023”).<\/p>\n

Dr. David Shao<\/span>, Director, President, and CEO of YS Biopharma, commented, “We are delighted to announce our first annual results as a Nasdaq-listed company with significant year-over-year revenue growth, a stable gross margin, and a strengthened balance sheet. At the same time, we laid the foundations for our future development as we advanced our diversified portfolio of innovative product candidates, bringing them closer to commercialization. Driven by strong demand for our YSJA rabies vaccine and our strategic execution of sales and marketing initiatives, we ended fiscal year 2023 standing as one of the leading human rabies vaccine manufacturers, and we expanded our market reach to over 60% of CDC customers in China<\/span>. Meanwhile, we made notable progress in advancing our rabies vaccine franchise when we received approval to conduct Phase III clinical trials of our premium, next-generation PIKA rabies vaccine from regulatory authorities in the Philippines<\/span>, Singapore<\/span>, and Pakistan<\/span>. Looking ahead, we will strategically unlock the potential of our marketed product and our pipeline candidates by exploring commercial partnerships, expanding our infrastructure, entering new markets, and leveraging our deep experience in vaccine manufacturing, sales, and distribution. With our first-generation rabies vaccine generating organic cash flows and our robust product portfolio advancing to the next phase, we are well-positioned to continue developing transformative vaccines and therapeutic biologics while creating long-term shareholder value.”<\/p>\n

Business Updates<\/u><\/b><\/p>\n

YSJATM<\/sup> Rabies Vaccine<\/b><\/p>\n

YS Biopharma’s marketed vaccine product, YSJATM<\/sup> rabies vaccine, was the first aluminum-free lyophilized rabies vaccine launched in China<\/span>. Since the Company commenced production at its current GMP-compliant facilities in February 2020<\/span>, and as of March 31, 2023<\/span>, YS Biopharma had sold more than 19.9 million doses of YSJATM<\/sup> rabies vaccines to approximately 1,687 county-level CDCs in China<\/span>.<\/p>\n

Clinical Pipeline<\/u><\/b><\/p>\n

YS Biopharma is advancing a robust portfolio of innovative product candidates under various clinical development stages, including PIKA rabies vaccine, PIKA recombinant COVID-19 vaccine, and PIKA YS-ON-001.<\/p>\n

PIKA Rabies Vaccine<\/b><\/p>\n