In a report released today, Jill Wu from CMB International Securities maintained a Buy rating on InnoCare Pharma Ltd. (9969 – Research Report), with a price target of HK$11.95.
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Jill Wu has given her Buy rating due to a combination of factors that highlight InnoCare Pharma Ltd.’s strong financial performance and promising pipeline. The company reported impressive first-quarter results for 2025, with significant revenue growth driven by the sales of orelabrutinib, a BTK inhibitor that is the only one approved for MZL in China. This product’s sales are expected to continue growing robustly, supported by expanded hospital coverage and recent label expansions.
Additionally, InnoCare’s autoimmune and oncology pipelines offer substantial long-term growth potential. The autoimmune pipeline, particularly with orelabrutinib’s potential in multiple sclerosis and other indications, presents meaningful opportunities. Meanwhile, the oncology pipeline is expanding with promising assets like mesutoclax and tafasitamab, targeting less crowded markets. The company’s strong cash position and improved cost efficiency further bolster its capacity to invest in research and development, supporting future growth prospects.