Innovent Biologics (1801) Impressive Next-Gen Obesity & Metabolic Pipeline at the ADA 2026

Research evidence excerpt

Innovent Biologics (1801) Impressive Next-Gen Obesity & Metabolic Pipeline at the ADA 2026

Asia Pacific Equity Research

10 June 2026

Overweight

Innovent Biologics (1801) 1801.HK, 1801 HK

Price: HK$74.35

Impressive Next-Gen Obesity & Metabolic Pipeline at 10 Jun 2026

the ADA 2026 Price Target: HK$113.00

PT End Date: 31 Dec 2026

Innovent Biologics unveiled comprehensive pre-clinical and early clinical Healthcare

data for its next-generation obesity and metabolic pipeline at the 2026 Yang Huang AC

ADA (American Diabetes Association) meeting. The portfolio (852) 2800 3812

yang.huang@jpmorgan.com

demonstrates a strategic shift toward enhancing patient convenience and J.P. Morgan Securities (Asia Pacific) Limited/

deepening efficacy through diverse mechanisms. Key assets include J.P. Morgan Broking (Hong Kong) Limited

IBI3032, a novel oral GLP-1 receptor agonist, which has advanced into Eric Zhao, CFA

Ph1 clinical trials to further explore and refine optimal dose titration (86-21) 6106 6256

schemes; IBI3042, a potential first-in-class oral weekly GLP-1 small eric.zhao@jpmorgan.com

molecule; IBI3040, a next-generation amylin analog; and IBI3046, a long- SAC Registration Number: S1730524050001

J.P. Morgan Securities (China) Company

acting siRNA targeting INHBE. This broad portfolio highlights Innovent's Limited

R&D capabilities to move beyond its current weight-loss anchor GLP- Derek Choi

1/GCGR drug, mazdutide, by addressing unmet needs such as non- (852) 2800-8744

injectable administration and combination therapies. derek.c.choi@jpmorgan.com

J.P. Morgan Securities (Asia Pacific) Limited/

• The data readouts revealed compelling differentiators for the four J.P. Morgan Broking (Hong Kong) Limited

candidates. IBI3032 demonstrated linear pharmacokinetics and a