Movement Alert｜Innovent Biologics Rises 3.32% in Regular Trading, IBI3003 Phase III First Patient Dosing Combined with Biotech Sector Rebound

Market Focus06-23

On June 23, Innovent Biologics rose 3.32% in regular trading, trading at 78.4 HKD/share, with turnover of HKD 268 million.

On the news front, the company announced that IBI3003, a trispecific antibody targeting GPRC5D/BCMA/CD3 for the treatment of multiple myeloma, has completed first patient dosing in its pivotal Phase III clinical trial. This milestone marks a critical step toward clinical application of the innovative therapy in second-to-fifth-line multiple myeloma patients.

Simultaneously, the biotech sector staged a broad rebound, providing additional support. Within the sector, Akeso rose 5.12%, Remegen gained 4.49%, and BeiGene advanced 3.91%. Furthermore, Xingye Securities maintained its Buy rating on Innovent, citing strong IBI363 first-line data presented at ASCO and the companys internationalization prospects through its partnership with Pfizer, which carries a total deal value of up to USD 10.5 billion including milestones and sales royalties.

(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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