HK Stock Market Move | INNOVENT BIO (01801) tumbled over 6% in pre-market trading, with multiple large transactions involving more than HK$1.2 billion.

INNOVENT BIO (01801) plunged more than 6%, dropping by 5.43% to 87 Hong Kong dollars, with a trading volume of 1.86 billion Hong Kong dollars as of the time of this report. On the news front, INNOVENT BIO has successfully included seven innovative products (including newly approved indications) in the new edition of the medical insurance catalog. This includes the mature product PD-1 inhibitor Tyvyt (sintilimab injection) expanding its indications, with all eight approved indications for Tyvyt now covered by medical insurance. It also includes a range of new drugs recently launched in the fields of cancer and chronic diseases. It is worth noting that INNOVENT BIO previously announced the completion of a partnership with Takeda Pharmaceuticals. The company issued 6.9138 million shares to Takeda Pharmaceuticals, representing approximately 0.4% of the total issued shares, with net proceeds of nearly 780 million Hong Kong dollars. In addition, there have been several large transactions in the INNOVENT BIO market recently, involving approximately 13.0734 million shares with an average price of 92 Hong Kong dollars per share, totaling more than 1.2 billion Hong Kong dollars.