China's Innovent Biologics jumps to 6-week high on strong Q1 revenue

China Renaissance Holdings

02/05/2024 06:55

** Shares of China's biopharmaceutical group Innovent
Biologics Inc  1801.HK  jump 8.4% to HK$41.45, on track for the
biggest one-day pct rise since February 6 
    ** Stock hits the highest since March 19
    ** Innovent Biologics says its total product revenue 1.7 bln
yuan ($234.80 mln) in Q1, up 60% YoY  
    ** Co says it has ten approved products, three assets under
the New Drug Application review by the National Medical Products
Administration, five assets in Phase III clinical trials and 18
additional molecules in clinical studies
    ** Hong Kong's healthcare index  .HSCIH  surges 3.9%, Hang
Seng Composite Index  .HSCI  rises 2.3% and Hang Seng Index
 .HSI  adds 2.4%
    ** Stock down 4% YTD



($1 = 7.2401 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))