Losses Mount at InnoCare but Cash Cushion Dulls the Pain

The cancer drug developer logged another loss in the latest quarter but a cash pile of more than 9.2 billion yuan can sustain its business for the next five years Key Takeaways: InnoCare’s drug sales soared after its key product was approved for Chinese medical insurance coverage, but hefty foreign exchange losses pushed the accounts into the red The company raised nearly 3 billion yuan on Shanghai’s STAR Market in September, putting it in a comfortable cash position for now By Molly Wen China’s InnoCare Pharma Ltd. (9969.HK; 688428.SH) has…

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No Early Relief for JW Therapeutics from Cancer Wonder Drug

The biotech company logs revenue of 66 million yuan from its cutting-edge cancer therapy, but losses jump more than 50% to nearly 430 million yuan. Key Takeaways: JW Therapeutics prices its new cancer therapy at around a million yuan, with the high production costs hard to bring down.  Large-scale market expansion is not going to be easy  The company is undervalued compared with its peers pending further progress in commercializing its products By Molly Wen A medical breakthrough is only one milestone on a long and uncertain road to mass…

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InnoCare Revs Up for Next Phase With Strong Results, IPO Plan

Sales of the company’s key Orelabrutinib cancer drug doubled in the first half of the year, contributing to a 142% revenue jump for the period Key Takeaways: InnoCare Pharma’s revenue surged 142% in the first half of the year, but the company still lost money due to soaring R&D expenses and foreign exchange losses The company will use 4 billion yuan from a Shanghai STAR Market IPO to boost production and accelerate its product commercialization By Molly Wen Chinese drug stocks have cooled noticeably in the past year, as investors…

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FAST NEWS: InnoCare Pharma Losses Double on Higher Costs And Exchange Deficit

The latest: InnoCare Pharma Ltd. (9969.HK) issued a profit warning Friday, estimating a net loss of no more than 495 million yuan ($73 million) for the first half of this year, versus a net loss of 209.4 million yuan in the same period last year. Looking up: Benefiting from the increased sales of its core drug, Orelabrutinib, the company expects its revenue for the first half of the year to be no less than 236 million yuan, an increase of no less than 132.2% from 101.7 million yuan in the same…

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FAST NEWS: InnoCare Pharma Granted Production Approval for Guangzhou Facility

The latest: InnoCare Pharma Ltd. (9969.HK) announced Monday its Guangzhou manufacturing facility has been approved by the China National Medical Products Administration (NMPA) to start the production of commercial supply of its self-developed Bruton’s tyrosine kinase inhibitor, Orelabrutinib, from June 30. Looking up: With the approval of the Guangzhou facility for commercial production, the company’s production capacity will be increased, which should bring in more sales revenue. Take Note: Although Orelabrutinib has been commercialized, most of the company’s products are still in the research and development stage, which will put pressure on…

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FAST NEWS: Innocare Pharma Loss Narrows on New Drug’s Contribution

The latest: Drug maker InnoCare Pharma Ltd. (9969.HK) announced Wednesday that its net loss shrank by 83.5% to 64.5 million yuan ($10.1 million) last year from 2020 levels. Looking up: The company had forecast a net loss of up to 100 yuan million for 2021 at the end of February. Thus, the final loss was lower than expected, showing the company has taken a big step forward to becoming profitable. Take Note: Innocare Pharma’s selling expenses increased 3.3 times year-on-year to 298 million yuan and R&D costs rose 79% to 721 million…

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FAST NEWS: InnoCare Pharma Sees Losses Shrinking, But Stock Still Slumps

The latest: Drug maker InnoCare Pharma Ltd. (9969.HK) announced Wednesday evening that it expects to report a net loss of up to 100 million yuan ($15.7 million) for all 2021, a significant 78.4% reduction from the 464 million yuan net loss recorded in 2020. Looking up: For biotech stocks, where R&D expenses account for the majority of costs, a decrease in losses is always good news, showing the company is edging closer to profitability. The reduced loss is mainly due to the company’s receipt last year of an up-front licensing…

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FAST NEWS: InnoCare Pharma Slumps after Flagship Drug Included on China’s National List

The latest: InnoCare Pharma Ltd. (9969.HK) said late Friday that its Bruton’s tyrosine kinase inhibitor Orelabrutinib, used to treat lymphoma and autoimmune diseases, has been included on the National Reimbursement Drug List issued by China’s National Healthcare Security Administration. Looking up: The government reimburses for drugs on the list on behalf of patients to reduce their financial burden. Hospitals are also more inclined to choose drugs on the list, which will help InnoCare Pharma to increase its sales and profits. Take Note: Drug makers whose products get added to the…

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