INNOGEN-B (02591) fell more than 5% during trading, and as of the latest update, the decline was 2.17%, with the share price at HK$21.62 and a turnover of HK$3.98 million. On March 18, the company announced that despite generating revenue of approximately RMB 131.5 million in 2025 (compared to zero in 2024) following the commercial launch of Esupaglutide α, its core product for treating type 2 diabetes, in China and Macau, it expects to record a loss of approximately RMB 341.4 million for the year. This compares to a loss of about RMB 174.7 million for the year ended December 31, 2024. The increase in loss is primarily attributed to a rise in R&D expenses of approximately RMB 103.3 million, mainly due to increased spending on raw materials, preclinical studies, clinical trials, and process optimization related to the lifecycle management and clinical development of Esupaglutide α, including a Phase IIb/III clinical trial in China for obesity and overweight treatment and a Phase II clinical study in Australia. Additionally, sales and distribution expenses increased by approximately RMB 174.3 million, largely due to higher marketing and promotion costs after the commercial launch of Esupaglutide α and increased employee benefit expenses from expanding the sales team to support market development.