HK Stock Market Move | INNOCARE (09969) now increases by over 4%, narrowing its losses to 275 million in the first three quarters. Sales of Osimertinib in the third quarter surged by 75.5%.

INNOCARE (09969) is up more than 4%, rising to 4.28% to HKD 7.79 as of the time of writing, with a turnover of HKD 31.1665 million. In terms of news, INNOCARE announced its financial performance for the first three quarters ending in September this year. According to Chinese accounting standards, the revenue was RMB 698 million, an increase of 29.8% year-on-year; the loss narrowed to RMB 275 million, compared to a loss of RMB 531 million in the same period last year. The announcement stated that the core product of INNOCARE, of which the revenue in the third quarter of 2024 increased by 75.5% year-on-year, reaching RMB 276 million. The revenue for the first three quarters of this product was RMB 693 million, an increase of 45.0% year-on-year. Open Source Securities previously stated that the company has two core products approved for listing, with a total of 13 clinical pipeline studies covering multiple areas such as hematologic malignancies, autoimmune diseases, and solid tumors. In the short term, with the introduction of a new indication for MZL entering medical insurance, the sales of the core listed product, Obeticholic Acid, are expected to grow steadily; the introduction of the product Tafasitamab is expected to be listed in mainland China in the first half of 2025, which may contribute to additional performance. In the medium to long term, the company's multiple pipelines have entered the registration clinical stage and have strong potential for overseas expansion.