InnoCare Reports 2026 Q3 Results, Sustained Profitability and Accelerating Globalization

BEIJING, Oct. 26, 2026 (GLOBE NEWSWIRE) -- InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on cancer and autoimmune diseases, today announced its third quarter 2026 results and business highlights for the nine-months ended September 30, 2026.

In the first three quarters of 2026, driven by strong commercial execution and global business development collaborations, the Company’s revenue grew 88.2% year-on-year (YoY) to RMB 2.1 billion, and net profit reached RMB 648.3 million, as the Company sustained profitability.

The Company also continued to accelerate its globalization, entering into a strategic collaboration with Eli Lilly that reflects global recognition of its innovation capabilities. The company has been continuously accelerating its pipeline development, with 14 registrational clinical trials ongoing and five new molecules entering the clinic this year. InnoCare further advanced its strategy of innovation, commercialization and globalization, building stronger momentum for long-term growth.

Financial Highlights

Revenue grew by 88.2% YoY to RMB 2.1 billion in the first three quarters of 2026, driven mainly by robust commercial growth and global business development collaborations.

Drug sales increased by 41.5% YoY to RMB 1.4 billion for the 9 months ended September 30, 2026, driven by robust growth of orelabrutinib and contributions from the newly launched tafasitamab and zurletrectinib.

Profit reached RMB 648.3 million, compared with a loss of RMB 72.0 million in the same period, mainly due to continued commercial growth and global BD collaborations.

Research and Development Investment increased by 16.1% YoY to RMB 785.1 million for the 9 months ended September 30, 2026, reflecting the advancement of additional Phase III clinical trials, as well as increased investment in new technology platforms.

Accelerating Globalization

In the third quarter of 2026, InnoCare continued to accelerate its globalization by entering into a strategic research collaboration and license agreement with Eli Lilly. Leveraging its drug discovery platform and extensive research experience, the Company will discover and advance up to five innovative target programs, with a total deal value of up to US$ 3.35 billion. The collaboration underscores global recognition of the Company's R&D capabilities and the international competitiveness of its drug discovery platform.

Dr. Jasmine Cui, the Co-founder, Chairwoman, and CEO of InnoCare, said, “In the first three quarters of 2026, we sustained profitability, maintained robust commercial growth, and accelerated globalization. Our collaboration with Zenas continued to advance with increasing value realization, and we entered into a strategic collaboration with Eli Lilly, fully demonstrating our capabilities in global collaboration. Meanwhile, projects across our oncology and autoimmune pipelines progressed rapidly in China and globally, in line with our commitment to benefit patients worldwide.”

Robust Commercial Growth

Leveraging a diversified and highly competitive product portfolio and strong commercial execution, the Company's drug sales maintained rapid growth in the first three quarters of 2026, increasing by 41.5% YoY to RMB 1.4 billion.

In 2026, all four approved indications of orelabrutinib were included in the updated National Reimbursement Drug List (NRDL). Orelabrutinib sales grew rapidly following the NRDL inclusion of the first line chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) indication, while orelabrutinib maintained its exclusive indication advantage in marginal zone lymphoma (MZL). Additionally, both tafasitamab and zurletrectinib have been approved for marketing and have begun to contribute to sales. Tafasitamab is the first CD19 antibody approved for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL) in China, and the next-generation TRK inhibitor, zurletrectinib, has been prescribed in hospitals across China.

Accelerating Innovation

Enhancing Competitive Advantage in Hemato-Oncology

As the first BCL2 inhibitor granted Breakthrough Therapy Designation (BTD) in China, mesutoclax (ICP-248) is advancing five registrational clinical trials. The latest data from the program will be presented at the 68th American Society of Hematology (ASH) Annual Meeting in New Orleans from December 12-15, 2026.

1) The registrational Phase III trial of mesutoclax with orelabrutinib in 1L CLL/SLL has completed patient enrollment.
2) The registrational Phase II clinical trial of mesutoclax in BTK inhibitor-treated mantle cell lymphoma (MCL) has completed patient enrollment and received BTD. It is the first BCL2 inhibitor to receive BTD recognition in China.
3) The registrational Phase III clinical trial of mesutoclax in combination with orelabrutinib in r/r MCL is ongoing in China.
4) The head-to-head registrational Phase III trial of mesutoclax with azacitidine versus venetoclax with azacitidine in treatment naïve (TN) acute myeloid leukemia (AML) was initiated in China.
5) The Phase III clinical trial of mesutoclax in combination with orelabrutinib for the treatment of patients with marginal zone lymphoma (MZL) who have received at least one prior therapy has been initiated, and the combination has been granted BTD in China.

In addition, global clinical development of mesutoclax in AML and myelodysplastic syndrome (MDS) is accelerating in China, the U.S., and Australia. The latest data will be presented at the 68th American Society of Hematology (ASH) Annual Meeting in 2026.

Accelerating Autoimmune Pipeline, Building Second Growth Curve

Orelabrutinib

The NDA submission for orelabrutinib in Immune thrombocytopenia（ITP）has been accepted in China, marking orelabrutinib’s first NDA acceptance in an autoimmune indication and a significant milestone in its expansion beyond hematologic malignancies into autoimmune diseases. The Phase III clinical data will be presented at the 68th ASH Annual Meeting in 2026.

The registrational Phase III clinical trial of orelabrutinib in systemic lupus erythematosus (SLE) has been accelerating patient enrollment. Orelabrutinib is the first BTK inhibitor to demonstrate significant efficacy in a Phase IIb clinical trial in SLE.

Two global registrational Phase III clinical trials of orelabrutinib in primary progressive multiple sclerosis (PPMS) and secondary progressive multiple sclerosis (SPMS) are ongoing in collaboration with Zenas. Multiple studies were presented at the 10th Joint ACTRIMS-ECTRIMS Meeting in 2026, fully demonstrating the significant clinical potential of orelabrutinib in SPMS and PPMS.

Two Differentiated Oral TYK2 Inhibitors

Soficitinib (ICP-332) and fadeucravacitinib (ICP-488) have delivered multiple pivotal Phase II/III clinical readouts that met primary endpoints.

Soficitinib

1) The Phase III clinical trial of soficitinib in patients with moderate to severe atopic dermatitis (AD) met primary endpoints.
2) The Phase II portion of the Phase II/III trial in non-segmental vitiligo has met its primary endpoint. The Company will accelerate Phase III clinical trials.
3) The global Phase II clinical trial for prurigo nodularis (PN) has continued patient enrollment in China, U.S. and Europe.
4) The Phase II/III clinical trial for moderate‑to‑severe chronic spontaneous urticaria (CSU) has completed patient enrollment.
5) The Phase II clinical trial for moderate‑to‑severe plaque psoriasis has completed patient enrollment.
6) The Phase II clinical trial in adolescent patients with moderate-to-severe AD has completed patient enrollment.

Fadeucravacitinib

1) The Phase III clinical trial in patients with moderate-to-severe plaque psoriasis achieved primary endpoints.
2) The Phase II clinical trial in cutaneous lupus erythematosus (CLE) is being expedited.
3) The Phase II clinical trial in patients with Sjögren’s syndrome (SS) is ongoing.

Other Autoimmune Pipelines

ICP-054, a novel oral IL-17AA/AF inhibitor, has successfully enrolled healthy volunteers. The single-ascending-dose (SAD) and multiple-ascending-dose (MAD) portions are being conducted in collaboration with Zenas, with Phase I study completion expected by the end of 2026.

ICP-538, the first VAV1 degrader approved to enter clinical trials in China and the second globally, has successfully enrolled patients, with the Phase I clinical study expected to complete by the end of the year. ICP-538 is a novel, potent, highly selective, orally administered molecular glue degrader targeting VAV1, a key signaling protein downstream of the T-cell and B-cell receptors. ICP-538 is being developed for the treatment of hard-to-treat autoimmune diseases, such as inflammatory bowel disease (IBD), SLE, and MS.

ICP-B161, a novel bispecific antibody targeting TL1A and IL-23p19, has been approved for clinical trials for the treatment of autoimmune diseases, including IBD. In preclinical studies, ICP-B161 demonstrated good efficacy, including significant inhibition of colitis-related symptoms.

Accelerating Solid Tumor Pipeline Development

Zurletrectinib, the next-generation TRK inhibitor, was granted priority review for the treatment of pediatric patients (ages 2–12) with solid tumors harboring NTRK fusions, and the NDA application has been accepted.

The Company's highly differentiated ADC technology platform leverages unique linker-potent payload (LP) technology. Built on this platform, the Company will continue to develop multiple ADC drug candidates with highly differentiated efficacy and safety profiles, bringing a new generation of treatment options to patients with cancer. To date, three innovative ADC candidates have entered clinical development, including the Company’s first bispecific ADC.

1) ICP-B794, a novel B7-H3 targeted ADC, has accelerated Phase I dose-escalation trial, offering a promising treatment for solid tumors such as lung cancer, esophageal cancer, nasopharyngeal cancer, head and neck squamous cell carcinomas, prostate cancer, and others.
2) ICP-B208, a novel CDH17-targeted ADC, has entered clinical development, with patient enrollment underway. ICP-B208 is being developed for the treatment of gastrointestinal cancers, including gastric, colorectal, pancreatic ductal adenocarcinoma, and cholangiocarcinoma.
3) ICP-B381, a novel bi-specific ADC targeting PSMA and STEAP1, has entered clinical development in China for the treatment of solid tumors, including prostate cancer. In preclinical studies, ICP-B381 demonstrated robust and dose-dependent antitumor activities.

InnoCare will accelerate the coordinated advancement of innovation, commercialization and globalization, continuing to unlock the value of its innovation globally for the benefit of patients worldwide.

To know more about the detailed financial data and business updates of InnoCare 2026 Q3 results, please log in to https://www.innocarepharma.com/en/investor/home

Conference Call Information

InnoCare will host a conference call at 9:00 a.m. Beijing time in Chinese on Oct. 27, 2026. Participants must register in advance of the conference call through the below link: https://s.comein.cn/y7dbuh3u.

InnoCare Forward-looking Statements

This report contains the disclosure of some forward-looking statements. Except for statements of facts, all other statements can be regarded as forward-looking statements, that is, about our or our management's intentions, plans, beliefs, or expectations that will or may occur in the future. Such statements are assumptions and estimates made by our management based on its experience and knowledge of historical trends, current conditions, expected future development and other related factors. This forward-looking statement does not guarantee future performance, and actual results, development and business decisions may not match the expectations of the forward-looking statement. Our forward-looking statements are also subject to a large number of risks and uncertainties, which may affect our short-term and long-term performance.

About InnoCare Pharma

InnoCare (HKEX: 09969; SSE: 688428) is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing innovative drugs for the treatment of cancers and autoimmune diseases, two therapeutic areas with unmet medical needs worldwide. InnoCare has established comprehensive innovation platforms for drug discovery. To date, the Company has developed a robust product pipeline comprising three approved drugs (orelabrutinib, tafasitamab and zurletrectinib), more than ten innovative drug candidates in clinical development, and multiple programs in preclinical stages. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, Hong Kong, and the United States. For more information about InnoCare, please visit https://www.innocarepharma.com/en and follow us on LinkedIn.

Contact
Media Chunhua Lu 86-10-66609879                         chunhua.lu@innocarepharma.com	Investors 86-10-66609999 ir@innocarepharma.com