HK Stock Market Move | INNOCARE (09969) rose nearly 7% with rapid realization of commercialization ability of Osimertinib. Institutions predict that there is still room for increase in market share.

INNOCARE (09969) rose by nearly 7%, as of the time of writing, it increased by 6.61% to 5.81 Hong Kong dollars, with a trading volume of 17.6155 million Hong Kong dollars. Zhongjin released a research report stating that Avapritinib is the company's cornerstone product for hematological tumors, and its commercialization capabilities are rapidly being realized. The company's BTK inhibitor Avapritinib has seen rapid growth since it was included in medical insurance for MZL (Marginal Zone Lymphoma) indications in early 2024, contributing revenue of 693 million yuan in 1-3Q24. The company's 3Q24 announcement predicts that the annual revenue of this product will continue to maintain high growth. According to Zhongjin's estimates, the domestic BTK market size in 2024 is about 3 billion yuan, with the company's market share of Avapritinib reaching 30%, and the bank expects there is still room for growth. In addition, the company's hematological pipeline continues to expand, with the introduction of CD19 monoclonal antibody Tafasitamab for the treatment of r/rDLBCL being accepted for market approval and priority review, which is expected to further enhance the company's leading position in hematological tumors. The bank continues to point out that the company's cash and cash equivalents are abundant, which is expected to support the expansion of the company's future product pipeline. The company has already established a relatively complete product pipeline and has ample cash flow on the books, which the bank believes can support further expansion of the company's future product pipeline. The company's clinical and R&D progress efficiency is high, and the management team has many years of R&D experience in the pharmaceutical field. They are optimistic about the company's future development and believe that the company is a high-quality target with international potential among Chinese innovative pharmaceutical companies.