Innovent Biologics Shares Surge After Swing to Profitability

Innovent Biologics shares surged 7.7% after the company reported its first full year of profitability, with revenue rising 38% to over 10 billion yuan ($1.45 billion). The net profit reached 813.6 million yuan, a turnaround from a loss the previous year. Analysts remain optimistic about Innovent's growth, citing a strong pipeline of drug candidates and collaborations valued over $22 billion. The stock's rise coincided with a broader rally in Chinese healthcare stocks, with the Hang Seng biotech index climbing 5.2%.