According to a report by China International Capital Corporation, Innovent Bio (01801.HK) recently disclosed positive data on three tumor pipeline products at the 2024 ASCO conference and ESMO Plenary, with clinical data readouts positively overlapping the company's efficient clinical advancement strategy. The company's tumor pipeline is expected to continue to be enriched, and attention is recommended for the future data disclosure of tumor products such as IBI363.

The report pointed out that Innovent Bio controlled its three expenses well last year, with R&D expenses decreasing by 22% annually, management expenses decreasing by 10% annually, and sales and marketing expenses decreasing by 6.9 percentage points annually. The income from the product side was stable and rising, and it is expected that the company will have multiple chronic disease products open up revenue realization next year. It is recommended to actively pay attention to the company's good trend on the financial statements.

China International Capital Corporation maintains its unchanged revenue and profit forecasts for Innovent Bio for this year and next year, and maintains a 'Outperform' rating on the industry. Due to the continuous realization of the company's pipeline clinical data, the value potential of the pipeline is expected to be increased, and the target price is raised by 4.2% to 50 yuan.