Movement Alert｜Innovent Biologics Rises 3.46% in Regular Trading, New Drug Pikanqibai Approved Amid Biotech Sector Recovery

Market Focus

May 21

On May 21, Innovent Biologics rose 3.46% in regular trading, trading at HKD 81.6/share, with trading volume of HKD 182 million.

On the news front, Innovent Biologics announced on May 20 that its independently developed Pikanqibai injection (Xinmeiyue) received NMPA approval for the treatment of moderate-to-severe plaque psoriasis in adult patients. The product is an innovative antibody that specifically binds to the IL-23 p19 subunit, with multiple clinical studies having achieved their endpoints. The new drug approval is expected to further enrich the company's non-oncology product pipeline.

Additionally, the broader biotech sector saw a recovery, with AKESO up 6.26%, Remegen up 2.97%, SKB Bio up 3.80%, and BeiGene up 2.38%. The improved sector sentiment provided support for Innovent Biologics' rebound following its previous consecutive pullback.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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