Movement Alert｜Innovent Biologics Rises 3.04% in Regular Trading, BD Deal Catalyst and Biotech Sector Recovery Drive Gains

Market Focus07-20

On July 20, Innovent Biologics rose 3.04% in regular trading, trading at 92.8 HKD/share, with turnover of HKD 244 million. The move was driven by a combination of a major licensing deal and a broad biotech sector rebound.

On the news front, the company recently announced an exclusive licensing agreement granting ex-Greater China rights to IBI355, a third-generation anti-CD40L antibody, to Spero Therapeutics in a deal worth up to USD 1.1 billion. CLSA subsequently raised its target price to HKD 139.9 and maintained an Outperform rating, noting the deal further validates the companys R&D capabilities. Nomura raised its target to HKD 123.17 maintaining a Buy rating, while Bank of America also lifted its target to HKD 119.2 citing active licensing transactions driving sector re-rating.

The broader biotech sector rallied collectively following a prior pullback, with Remegen up 7.67%, SKB Bio up 6.29%, Akeso up 4.47%, BeiGene up 4.15%, and 3SBio up 4.15%, reflecting broad capital inflows into the sector.

(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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