HK Stock Movement | INNOVENT BIO (01801) Plunges Over 6% with Block Trades Worth Over HK$1.2 Billion Pre-Market

Stock News12-08

INNOVENT BIO (01801) saw a sharp decline of over 6%, dropping 5.43% to HK$87 by the time of writing, with a trading volume of HK$1.86 billion. The company successfully included seven innovative products (including new indications) in the latest national medical insurance catalog. Among them is the expanded indication for its PD-1 inhibitor, Tyvyt (sintilimab injection), with all eight approved indications now covered by insurance. The list also features several newly launched drugs targeting oncology and chronic diseases. Notably, INNOVENT BIO recently completed a strategic investment from Takeda Pharmaceutical, issuing 6.9138 million shares (approximately 0.4% of issued share capital) for a net proceeds of around HK$780 million. Additionally, pre-market block trades involved approximately 13.0734 million shares at an average price of HK$92 per share, totaling over HK$1.2 billion.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment