Summary by Moomoo AI
Innovent Bio released its midterm report on June 30, 2024, showing a loss of 392.6 million RMB during the period, an increase of 253.5 million RMB from the same period last year. Revenue increased to 3,952.3 million RMB, with a gross margin rising to 82.9%. Research and development expenses increased to 1,399.4 million RMB, supporting the company's continued growth and global innovation strategy. During the period, Innovent Bio obtained approvals for 11 products, with several new drugs entering key clinical stages. The company reached a cooperation agreement with Reindeer Bio, acquiring the global commercialization rights for Fucosu®, and becoming a strategic shareholder of Reindeer Bio.
