Innovent Biologics Embarks on New Era of Global Innovation -- Market Talk
Dow Jones
Jul 08
0449 GMT - Innovent Biologics is embarking on a new era of global innovation given its R&D progress on the IBI363 drug and other earlier assets in next generation IO and ADC therapies, Daiwa analyst Wilfred Yuen writes in a note. Daiwa expects Innovent to launch IBI363 in China in 2028 and globally in 2029. The company's recent 55 million share placement with net proceeds of around HK$4.2 billion will provide it with additional cash and flexibility for its global R&D strategy, Daiwa says. The brokerage maintains its buy rating for the stock, but raised its target price to HK$95.00 from HK$58.00. Shares last trading at HK$81.75.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
July 08, 2025 00:49 ET (04:49 GMT)
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