InnoCare Pharma (HKEX: 9969, SSE: 688428) posted a 55.5% year-over-year revenue increase to RMB 1.137 billion in the six months ended June 30, 2026, while net profit reached RMB 239.7 million compared with a RMB 36 million loss in the same period of 2025. The company’s shares fell 6.96% to close at $27.54 on Monday.
Drug sales, which accounted for 81% of total revenue, rose 43.2% to RMB 918.1 million. Management maintained its full-year drug sales growth guidance above 35%. The company ended the period with approximately RMB 8.4 billion in cash and equivalents, or about US$1.24 billion.
Research and development spending increased 10.5% to RMB 497 million. Diluted earnings per share stood at RMB 0.14 for the half-year. InnoCare also highlighted recent regulatory progress, including the December 2025 approval of Zurletrectinib for adults and adolescents with NTRK gene fusion-positive cancers and the submission of a new drug application for pediatric use in the second quarter of 2026.
Clinical updates included Phase 2 results for Soficitinib in atopic dermatitis, showing a 56% EASI 75 improvement rate at four weeks, and a 41.2% improvement from baseline at 24 weeks for the 120 mg once-daily dose in vitiligo. Fadeucravacitinib (ICP-488) achieved a 78.6% PASI 75 response rate at 12 weeks with the 9 mg once-daily dose in Phase 2 studies.
The company’s Mesutoclax combination therapy demonstrated strong efficacy signals in first-line chronic lymphocytic leukemia/small lymphocytic lymphoma, with a 100% overall response rate and a 52.4% complete response rate. In mantle cell lymphoma, the therapy showed an 84% overall response rate and a 36% complete response rate. Early Phase 3 data in acute myeloid leukemia indicated an 81.8% complete response rate and an 86.5% undetectable minimal residual disease rate.
InnoCare also outlined upcoming milestones, including a planned U.S. investigational new drug application for ICP-B381 in September 2026 and a data readout for the Mesutoclax and orelabrutinib combination expected in the first half of 2027.
