FAST NEWS: New Horizon Health’s Loss Narrows on Booming Sales

The latest: Cancer-screening device maker New Horizon Health Ltd. (6606.HK) announced Friday that it lost 65.28 million yuan ($9.7 million) in the first half of the year, down significantly from a 2.89 billion yuan loss in the same period last year. Looking up: Revenues from the company’s ColoClear and Pupu Tube products increased by 419% and 132%, respectively, and it also recorded its first-ever sales from its UU Tube product during the period. Those gains powered a 413.7% revenue jump to 226 million yuan in the first half of the…

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FAST NEWS: New Horizon Health Sees 2021 Revenue Tripling

The latest: New Horizon Health Ltd. (6606.HK) said it expects to post full-year 2021 revenue of 205 million ($32.3 million) to 217 million yuan, up 191% to 208% from the previous year, according to a profit alert issued on Friday after markets closed. Looking up: The company attributed the strong growth to two of its products that let people self-screen for colon cancer, “ColoClear” and “Pupu Tube.” Those two are expected to post revenue growth of up to 163.5% and 270.6%, respectively. Their gross profit margins were also expected to reach as…

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New Horizon Health Gets Booster with New Product Approval

Company says its UU Tube used to self-screen for stomach cancer has been approved by China’s health regulator Key takeaways: New Horizon Health says its first-of-its-kind UU Tube self-screening product for stomach cancer has been approved for sale in China Company is already frothily valued compared with peers, though sales from new device could bring that down to healthier levels By Tina Yip Think back to last February when a hot Hong Kong biotech IPO wowed investors with a story of big riches from its early colorectal cancer screening kits.…

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