Innovent Biologics (HKG: 1801) has refuted unconfirmed reports regarding the closure of its Rockville, Maryland lab, stating instead that the facility is being relocated to California. The clarification follows a report by Yicai, which indicated potential downsizing at the Maryland site. However, Innovent has not disclosed a timeline for the opening of the new California location.
While the company has yet to release its full 2023 financials, its H1 2023 report reflects a positive trajectory, with revenues rising by 20.6% to CNY 2.701 billion (approximately USD 375.5 million). Additionally, Innovent reported a significant reduction in losses, which fell by 74.2% to CNY 267.4 million.- Flcube.com
