Innovent Bio's 2024 Loss Narrows as Revenue Surges 52%; Shares Jump 14%

MT Newswires Live

03-27

Innovent Biologics' (HKG:1801) attributable loss narrowed 91% to 94.6 million yuan in 2024 from 1.03 billion yuan in 2023, according to a Wednesday filing with the Hong Kong bourse.

The drugmaker's loss per share dropped to 0.06 yuan from 0.66 yuan a year earlier. Analysts at Visible Alpha estimated a loss per share of 0.38 yuan.

Revenue grew 52% to 9.42 billion yuan from 6.21 billion yuan in the previous year. Visible Alpha analysts forecast revenue at 8.36 billion yuan.

Shares surged 14% in Thursday's midday trade.

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