Movement Alert｜Innovent Biologics Rises 3.01% in Regular Trading, Global First CLDN18.2 ADC Drug Application Accepted for Gastric Cancer

Market Focus06-05 09:55

On June 5, Innovent Biologics rose 3.01% in regular trading, trading at 78.7 HKD/share, with trading volume of 341 million HKD.

On the news front, the company announced on June 4 that the New Drug Application for its CLDN18.2-targeted ADC drug IBI343 (Arcotatug Tavatecan) for advanced gastric cancer was accepted by China's NMPA and granted priority review. IBI343 is the first CLDN18.2-targeted ADC drug globally to enter regulatory review. The drug achieved dual primary endpoints of PFS and OS in an international multi-center Phase III clinical study, demonstrating excellent efficacy and a tolerable safety profile. If approved, it is expected to fill a clinical gap in later-line treatment for advanced gastric cancer.

Additionally, the biotech sector showed broad recovery today, with SKB Bio up 4.97%, Akeso up 2.36%, and Remegen up 2.07%, providing sector-level tailwinds. The stock also benefits from the recent $10.5 billion global strategic partnership with Pfizer announced on May 29, with multiple brokerages maintaining Buy ratings and target prices above 100 HKD.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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.

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