On June 8, Innovent Biologics fell 3.59% in regular trading, trading at 74.6 HKD/share, with trading volume of HKD 243 million. The stock has declined for multiple consecutive trading sessions following its 11% surge on May 29 when the company announced a USD 10.5 billion global strategic collaboration with Pfizer.

Market concerns continue to center on whether the landmark transaction can obtain the necessary regulatory approvals. Recent speculation around potential revisions to biomedical export control lists and the US COINS Act's potential restrictions on biotechnology have intensified doubts about deal completion, persistently suppressing investor sentiment. The collaboration covers 12 early-stage oncology projects including ADCs and multispecific antibodies, with Innovent receiving USD 650 million upfront and up to USD 9.85 billion in milestone payments.

Within the Biotechnology sector, partial weakness in peer stocks added pressure, with 3SBio down 2.81% and Akeso down 1.18%, creating a resonance drag on Innovent Biologics.

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