Innovent Biologics Full Year 2023 Earnings: CN¥0.66 loss per share (vs CN¥1.46 loss in FY 2022)

Innovent Biologics (HKG:1801) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥6.21b (up 36% from FY 2022).
• Net loss: CN¥1.03b (loss narrowed by 53% from FY 2022).
• CN¥0.66 loss per share (improved from CN¥1.46 loss in FY 2022).

1801 Products In Clinical Trials

• Phase I: 20.
• Phase II: 8.

1801 Post-Clinical Trial Products

• Pre-registration: 3.
• Approved (during full year): 7.
• Launched (during full year): 1.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Innovent Biologics Earnings Insights

The primary driver behind last 12 months revenue was the The People's Republic of China (PRC) segment contributing a total revenue of CN¥5.75b (93% of total revenue). The largest operating expense was Sales & Marketing costs, amounting to CN¥3.10b (51% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CN¥651.4m. Explore how 1801's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Biotechs industry in Hong Kong.

Performance of the Hong Kong Biotechs industry.

The company's shares are up 8.6% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Innovent Biologics that you need to be mindful of.

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