INNOGEN-B (02591) shares plummeted 5.79% during Tuesday's intraday trading session, following the release of the company's first post-IPO annual results for the fiscal year 2025.

The pharmaceutical company reported its maiden revenue of RMB131.51 million, generated from the launch of its core diabetes product Efsubaglutide Alfa. However, the net loss attributable to shareholders widened significantly to RMB341.36 million, representing a 95.4% increase compared to the previous year. The substantial loss expansion was primarily driven by a more than doubling of research and development expenses to RMB205.78 million and a dramatic surge in selling and distribution expenses to RMB176.65 million as the company scaled up commercial activities.

Despite achieving National Reimbursement Drug List inclusion for its diabetes treatment and progressing with obesity clinical trials, investors reacted negatively to the ballooning costs and continued heavy investment phase. The company also announced plans to enter the Latin America market as part of its global expansion strategy.