ABVC BioPharma reports 2024 revenue up 234%, EPS improves 77%, but restates FY2023 financials

ABVC BIOPHARMA, INC.

Revenue $509,589 (+234% YoY); net loss narrowed to $4.90M; EPS improved 77% to ($0.42).
Operating expenses cut 21% to $5.21M; SG&A down 58%, R&D down 83%.
Remaining milestone payments potential of $18.3M from licensing partners.
Board concludes FY2023 financials should no longer be relied upon due to errors in share-based payments, interest, non-controlling interest.
Material weakness in internal controls over financial reporting identified.

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