Maintain BUY. We are positive on the global potential of Innovent's rich innovative pipelines. Innovent is on track to achieve EBITDA breakeven this year. Backed by smooth development of IBI363, we improved our possibility of success for the asset and raised our DCF-based TP to HK$102.95 from HK$94.74. 机构：招银国际 研究员：Jill WU/Andy WANG IBI363 positioned as a promising next-generation IO therapy with Ph3 trials underway. Strong survival benefits and broad potential position IBI363 (PD-1/IL-2) as a potential bloc ...

A c t i o n | 29 Jun 2025 20:44:48 ET │ 13 pages Innovent (1801.HK) R&D Day Takeaways: Leading the Development of Next-Generation IO + ADC CITI'S TAKE During the R&D day, KoLs highlighted promising data of IBI363 in NSCLC, mucosal/acral melanoma and MSS CRC, and its potential to become a cornerstone product for next-generation IO treatment. Innovent is leading the development of next generation of IO+ADC combinations, which could bring broader-spectrum, highly-potent, less-toxic, innovative cancer treatment ...

Accessibility StatementSkip Navigation ADC Platforms Keynote speech R&D Strategy "Over the past decade, Innovent has been at the forefront of China's biopharmaceutical evolution—pioneering the PD-1 immunotherapy era and building China's leading oncology brand, with over 3 million cancer patients treated with our therapies," said Dr. Michael Yu, Founder, Chairman of the Board and CEO of Innovent. "We are entering a new chapter focused on global innovation, powered by a robust pipeline and dual innov ...