Neuren Pharmaceuticals (ASX: NEU) expects royalties and milestone payments to drive earnings in FY24.

Wed 01 May 24, 04:05 AM | Team Kalkine

Image source: metamorworks

Highlights

Neuren Pharmaceuticals Limited (ASX: NEU) focuses on creating novel drug treatments for neurological disorders. In the financial year 2023 ended 31 December 2023 (FY23), licensing revenue of NEU increased by 1488% to AUD 231.9 million, while profit after tax jumped 78450% to AUD 157.1 million.

The reported period saw AUD 27 million in royalties and AUD 205 million in milestone and up-front payments. Moreover, the firm received exciting top-line results in Phase 2 trial for Phelan-McDermid syndrome.

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