Crown Bioscience announces its results for the second quarter ending June 30, 2017.
CrownBio is pleased to report that second quarter results showed strong revenue and profit growth. Revenue grew by 33% to $18.9 million while operating profit increased to $2.05 million after tax. Year-to-date (YTD) revenue echoes the upward trend with 37% revenue growth over 2016 and $2.57 million after tax operating profit. For shareholders, Crown’s success translates to an exponential increase in earnings-per-share (EPS), delivering five times last year’s EPS.
Yangzhou Wang, Ph.D
CrownBio also announces today the appointment of Yangzhou Wang, Ph.D. as Senior Vice President of Global Operations.
“We are thrilled to bring Dr. Wang onboard,” said Dr. Jean-Pierre Wery, CEO of CrownBio. “CrownBio is experiencing tremendous, sustained growth which has led to the expansion to eight offices worldwide. With our sustained success, Dr. Wang’s outstanding scientific expertise and international experience will further strengthen our global operational excellence.”
With a Ph.D. in Biological Sciences from the State University of New York at Buffalo, Dr. Yangzhou Wang specializes in mergers and acquisitions, business integration and development. Wang spent a significant part of his career in academia, including serving as the Manager at the Hewlett Packard Laboratories Advanced Studies Group, and as an assistant professor at the Hauptman Woodward Medical Institute and the State University of New York at Buffalo.
“I am very excited to join CrownBio,” said Dr. Wang, “The impressive global reach and scientifically advanced preclinical oncology, cardiovascular and metabolic platform place it at the top of the industry, and make it the world's leading company for acceleration of drug discovery and development.” He continued, “I have long admired CrownBio’s growth, innovation and scientific advancements and am looking forward to the extraordinary work we are going to create together.”
CrownBio also announces the retirement of Dr. Alex Wu and Bing Zhu from their positions as President/Chief Strategic Officer and Chief Operating Officer. A cofounder of CrownBio, Dr. Alex Wu has served as the CEO, President, and CSO of CrownBio. Bing Zhu, the former Chief Financial Officer (2013 – 2016), successfully led CrownBio into a publicly traded company.