Clinuvel Pharmaceuticals (ASX:CUV) Celebrates 8th Consecutive Year of Profit Growth in FY24

Wed 08 Jan 25, 12:22 AM | Team Kalkine

Image source: Company update

Highlights

In FY24, total revenues rose 15% YoY to AUD 95.31 million.

CUV declared its seventh consecutive annual dividend, showcasing consistent returns to shareholders.

Health Canada validated and accepted the New Drug Submission (NDS) for SCENESSE®, with approval expected in 300 days.

Headquartered in Melbourne, Clinuvel Pharmaceuticals Limited (ASX:CUV) is an international specialty pharmaceutical company. The company is focused on developing and commercialising therapies for patients with genetic, metabolic, systemic, and life-threatening acute conditions. CUV’s flagship product is SCENESSE® (afamelanotide 16mg). Notably, the company has demonstrated eight consecutive years of profitability and continues to deliver consistent dividend payments.

CUV has reported strategic advancements in the financial year 2024. Driven by strong demand for SCENESSE® (afamelanotide), CUV achieved a 15% YoY growth in total revenues, reaching AUD 95.31 million compared to AUD 82.99 million in FY23. In FY24, net profit before tax also rose by 11% YoY, amounting to AUD 50.68 million, while basic earnings per share (EPS) increased by 15% YoY, reaching AUD 0.72.

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