Clinuvel (ASX:CUV) focuses on new product development to maintain revenue growth.

Wed 20 Nov 24, 07:15 AM | Team Kalkine

Image source: Pixabay

Highlights

Clinuvel Pharmaceuticals Limited (ASX:CUV) is a Melbourne-based specialty pharmaceutical company focusing on developing and commercialising treatments for patients diagnosed with systemic, genetic, metabolic, and life-threatening acute disorders. SCENESSE® (afamelanotide 16mg) is CUV's leading therapy, pioneering drug development for repigmentation and photoprotection. Since its launch in 2016, SCENESSE® has driven impressive revenue growth, with a CAGR of 38%, showcasing the program's strong market performance and ongoing success. According to the latest data, more than 17,000 SCENESSE® implants have been administered globally through clinical and commercial channels.

The financial year 2024 (FY24) marks the eighth consecutive year of revenue growth for the company. The period saw a 15% YoY increase in revenue, interest, and other income to AUD 95.31 million, along with a 19% YoY rise in total assets to AUD 231.1 million. Cash flow from operations in FY24 grew marginally by 0.54% YoY to AUD 37.1 million.

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