INNOGEN-B (02591) rose over 43% in morning trading. As of the time of writing, the stock was up 42.21%, trading at HK$17.99 with a turnover of HK$173 million. According to the company's annual results, revenue for 2025 reached RMB 132 million, with a loss of RMB 341 million. Notably, the lock-up period for INNOGEN-B's cornerstone investors is set to expire on May 14, 2026, with the related shares officially becoming tradable on May 15. The cornerstone investors collectively hold 4.201 million shares. A research report from Guohai Securities stated that the Suba T2D indication received NMPA certification in January 2025 and has been included in the National Reimbursement Drug List. Phase III weight loss data for Suba is expected to be released by the end of 2026. The report noted that in the Phase IIb study, the 20 mg once-weekly dosing regimen achieved a 10.6% weight reduction at week 18, with no plateau observed at that time point, while the 20 mg once-every-two-weeks regimen achieved a 9.7% weight reduction at week 18. Patient enrollment for the Phase III clinical study targeting obesity and overweight was completed in 2025. Topline data from this trial is anticipated to be announced by the end of 2026.