Understanding the Market | INNOVENT BIO rises over 14%, achieving positive net profit and EBITDA last year, will announce multiple latest preclinical data at the AACR annual meeting

INNOVENT BIO rose over 14%, as of the time of writing, up 14.21%, priced at HKD 44.6, with a transaction volume of HKD 1.109 billion. In terms of news, INNOVENT BIO announced its 2024 performance, with revenue of approximately RMB 9.422 billion, a year-on-year increase of 51.8%; gross profit of approximately RMB 7.912 billion, a year-on-year increase of 56.1%; and a loss of RMB 94.631 million for the year, narrowing by 90.8% year-on-year. Under Non-IFRS, the company turned a profit, achieving nearly RMB 332 million, compared to a loss of RMB 515 million in the same period last year; EBITDA reached RMB 410 million, compared to a loss of RMB 600 million in the same period last year. The company stated that it aims to achieve a strategic goal of RMB 20 billion in product revenue by 2027 and to have five pipelines enter global Phase III clinical trials by 2030. It is also worth mentioning that INNOVENT BIO announced this morning that it will present multiple latest preclinical data at the 2025 American Association for Cancer Research (AACR) annual meeting, including a series of dual antibodies, multi-antibodies, and antibody-drug conjugate (ADC) tumor pipelines under the company. This year's AACR annual meeting will be held in Chicago, USA, from April 25 to 30, 2025