INNOCARE (09969) surged over 4%. As of press time, the stock was up 4.1% to HK$18.01 with a turnover of HK$59.71 million.

On the news front, INNOCARE recently disclosed its interim results for the first half of 2025. CITIC Securities pointed out that the company achieved operating revenue of 730 million yuan in H1 2025, representing a year-on-year increase of 74.3%, mainly attributable to the continued volume growth of core product orelabrutinib and the upfront payment received from the licensing agreement with Prolium. Sales of core product orelabrutinib reached 637 million yuan, up 52.8% year-on-year. The net loss attributable to shareholders narrowed to 82 million yuan, reducing losses by 67.4% year-on-year, primarily due to increased operating revenue and further improved cost efficiency. As of H1 2025, cash and financial assets reached 7.68 billion yuan, providing sufficient support for subsequent R&D and commercialization.

The firm further noted that INNOCARE is continuously strengthening its drug discovery platform, focusing on B-cell and T-cell signaling pathways, and is committed to developing cutting-edge global targets in the autoimmune disease field to build a differentiated autoimmune pipeline. The goal is to provide "first-in-class" or "best-in-class" therapies for disease areas with significant unmet medical needs. These innovative drugs have broad application prospects in the global market.

Accelerating multiple Phase III autoimmune registration clinical trials to create a second growth curve: The Phase III clinical trial of orelabrutinib combined with ICP-248 for treating first-line CLL/SLL-FDT has completed enrollment; orelabrutinib has completed its Phase III clinical trial for the ITP indication in the autoimmune field.