CStone Pharmaceuticals reported QQ4 2024 revenue of 76.52 million CNY, with gross profit of 34.06 million CNY and a GAAP operating loss of 51.21 million CNY. The quarter produced a net loss of 53.45 million CNY and an EPS of -0.0419. While the company posted a meaningful year-over-year improvement in operating loss (down from -175.8 million CNY in QQ4 2023 to -51.2 million CNY in QQ4 2024, a roughly 70% improvement), profitability remains negative on both a gross and net basis as R&D and SG&A investments persist to advance the clinical pipeline. The company ended QQ4 2024 with robust liquidity: cash and cash equivalents of 387.9 million CNY and short-term investments of 285.0 million CNY (total liquid assets of ~672.9 million CNY), contributing to a net cash position of approximately -31.96 million CNY in net debt terms. Operating cash flow was negative at -78.0 million CNY, driven largely by working capital movements (notably a substantial inventory build). Management commentary is not included in the provided dataset, limiting the inclusion of direct quotes. Investors should monitor pipeline milestones and potential catalysts to convert cash burn into value, alongside ongoing cost discipline and potential licensing or collaboration opportunities.