HK Stock Market Move | InnoCare Pharma (09969) rose more than 5% in trading. The CDH17-targeted ADC new drug ICP-B208 has completed the first patient dosing.

InnoCare Pharma (09969) rose more than 5% during trading, and as of the time of publication, it increased by 1.53% to HK$14.01, with a trading volume of HK$153 million. In terms of news, InnoCare Pharma recently announced that its self-developed novel ADC innovative drug ICP-B208, targeting CDH17, has completed its first patient dosing. Based on InnoCare Pharma's self-developed ADC technology platform, ICP-208 is formed by linking a humanized anti-CDH17 antibody with a proteinase-cleavable linker and the company's self-developed potent payload, allowing precise targeting of tumor cells while minimizing off-target effects. Huaxi released a research report stating that the company's self-developed system is mature, with outstanding innovation capabilities. The sales of its core listed products have maintained steady and rapid growth, with a rich reserve of heavyweight varieties in the pipeline. Its integrated layout of domestic and foreign research and production is well-developed, with significant achievements in overseas BD authorization. It is optimistic about the commercial expansion potential after the continuous launch of the company's newly approved products, with strong long-term growth certainty. Using the free cash flow discounting valuation method, the company is valued at 64.98 billion yuan, corresponding to a stock price of 36.73 yuan. This is the first coverage, and the company is rated as "buy".