INNOGEN-B (02591) saw its share price decline by over 5%, continuing a downward trend after a significant surge earlier in the week. The stock had jumped more than 32% on heavy volume this past Monday but has retreated over the following three sessions. At the time of writing, the stock was down 5.32% to HK$13.7, with a turnover of HK$21.69 million.

The recent movement comes ahead of the expiration of the lock-up period for the company's cornerstone investors. According to a prior company announcement, the lock-up period is set to end on May 14, 2026, with the related shares becoming freely tradable on May 15. The cornerstone investors collectively hold 4.201 million shares.

Financially, INNOGEN-B reported revenue of RMB 132 million for the 2025 fiscal year, primarily generated from sales of its product, ESUPAGLUTIDE α, in China. The company recorded a net loss of RMB 341 million, representing a year-on-year expansion of 95.41%. Research and development expenses for the period doubled to RMB 206 million.