{"id":12283,"date":"2024-11-12T16:09:04","date_gmt":"2024-11-12T08:09:04","guid":{"rendered":"https:\/\/flcube.com\/?p=12283"},"modified":"2024-11-12T16:09:06","modified_gmt":"2024-11-12T08:09:06","slug":"innocare-pharma-reports-29-8-revenue-increase-in-q3-2024-financials","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=12283","title":{"rendered":"InnoCare Pharma Reports 29.8% Revenue Increase in Q3 2024 Financials"},"content":{"rendered":"\n

Beijing-based biotech InnoCare Pharma (HKG: 9969<\/a>; SHA: 688428<\/a>) has released its financial report for the third quarter of 2024, ending September 30, 2024, along with operational updates. The company reported revenue of RMB 698 million (USD 96.9 million) for the first three quarters, marking a 29.8% increase over the same period last year. The net loss narrowed by 47.1% to RMB 285 million (USD 39.6 million) compared to the previous year.<\/p>\n\n\n\n

Orelabrutinib Sales and Market Performance<\/strong>
Orelabrutinib, InnoCare Pharma’s Bruton’s tyrosine kinase (BTK) inhibitor, conditionally approved for marketing in China in December 2020, generated sales of RMB 693 million (USD 96.2 million) during the first three quarters and RMB 276 million (USD 38.3 million) in the third quarter alone, representing a year-on-year increase of 45% and 75.5%, respectively. This robust performance is attributed to the drug’s inclusion in China’s National Reimbursement Drug List (NRDL) for its three approved indications. Orelabrutinib stands as the first and only BTK inhibitor for recurrent refractory marginal zone lymphoma (MZL) in China and is being prepared for first-line indication clinical filing and market filing.<\/p>\n\n\n\n

Minjuvi and Pipeline Developments<\/strong>
InnoCare Pharma’s other commercialized product, Minjuvi (tafasitamab), an Fc-enhanced, humanized, anti-CD19 monoclonal antibody approved in Hong Kong in late 2022, is awaiting regulatory decisions in China for use in combination with lenalidomide for relapsed\/refractory diffuse large B-cell lymphoma, with priority review status. Additionally, the combination of orelabrutinib and ICP-248, a BCL2 inhibitor under accelerated development, has demonstrated significant potential, further expanding InnoCare Pharma’s therapeutic offerings.-Fineline Info & Tech<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Beijing-based biotech InnoCare Pharma (HKG: 9969; SHA: 688428) has released its financial report for the…<\/p>\n","protected":false},"author":1,"featured_media":12285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[27,919,327,920],"class_list":["post-12283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","tag-finanical-reports","tag-hkg-9969","tag-innocare-pharma","tag-sha-688428"],"yoast_head":"\nInnoCare Pharma Reports 29.8% Revenue Increase in Q3 2024 Financials - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Beijing-based biotech InnoCare Pharma (HKG: 9969; SHA: 688428) has released its financial report for the third quarter of 2024, ending September 30, 2024, along with operational updates. 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