Business
InnoCare Releases 2024 Results and Business Highlights
BEIJING, March 27, 2025--InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on cancer and autoimmune diseases, today announced the 2024 annual results as of 31 December 2024.
About this update from Innocare Pharma Ltd. Class A
[{"type":"text","content":"BEIJING, March 27, 2025--(BUSINESS WIRE)--InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on cancer and autoimmune diseases, today announced the 2024 annual results as of 31 December 2024.","length":229,"tagName":"p"},{"type":"text","content":"Financial Highlights","length":20,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue of Orelabrutinib increased by 49.1% to RMB 1,000.4 million1 in 2024, mainly driven by rapid growth of marginal zone lymphoma (MZL) indication and strong commercial execution. Total revenue increased by 36.7% to RMB 1,009.4 million in 2024.","length":247,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Gross Profit increased by 42.8% to RMB 871.0 million in 2024, with a gross profit margin of 86.3%, representing an increase of 3.7 percentage points, mainly due to the reduction in the unit cost of sales.","length":204,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Research and Development Expenses increased by 8.4% to RMB 814.0 million in 2024, primarily due to increased investment in advanced technology platforms and heightened spending on global clinical trials.","length":203,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The Loss decreased by 29.9% to RMB 452.9 million in 2024.","length":57,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Cash and Related Accounts Balance2 stood at approximately RMB 7.8 billion as of 31 December 2024. This robust cash position provides InnoCare with flexibility to expedite clinical development and invest in a competitive pipeline.","length":229,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":940,"olType":false},{"type":"text","content":"Accelerating Globalization","length":26,"tagName":"p"},{"type":"text","content":"China's innovative drugs have become a new focus of the global pharmaceutical industry, and its innovation capabilities are increasingly recognized worldwide. In January 2025, InnoCare Pharma and KeyMed Biosciences entered into an exclusive license agreement with Prolium Bioscience (Prolium) for the development and commercialization of ICP-B02 (CM355), a CD20xCD3 bispecific antibody. Under the terms of the agreement, Prolium will have the exclusive right to develop, register, manufacture and comme...