China Merchants Bank International: Slightly raises the target price of INNOVENT BIO to HKD 110.62 and reaches a strategic cooperation with Takeda Pharmaceutical
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CMB International released a research report stating that INNOVENT BIO has reached a global strategic cooperation with Takeda Pharmaceutical, involving multiple oncology assets. The target price has been raised from HKD 109.48 to HKD 110.62, maintaining a "Buy" rating. INNOVENT BIO will receive a USD 1.2 billion upfront payment and plans to enter global Phase III multi-regional clinical trials by 2030. The company's cash balance is USD 2.1 billion, and its financial condition is robust, supporting its global development strategy
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