Innovent Biologics, Inc. (OTCMKTS:IVBXF) Sees Large Drop in Short Interest

Innovent Biologics, Inc. (OTCMKTS:IVBXF) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 279,298 shares, a drop of 25.0% from the January 15th total of 372,384 shares. Based on an average daily trading volume, of 2,114 shares, the days-to-cover ratio is currently 132.1 days. Based on an average daily trading volume, of 2,114 shares, the days-to-cover ratio is currently 132.1 days.

Innovent Biologics Stock Performance

Shares of OTCMKTS:IVBXF opened at $11.44 on Tuesday. The business has a 50-day moving average of $10.68 and a two-hundred day moving average of $11.56. Innovent Biologics has a 12 month low of $4.64 and a 12 month high of $15.12.

Innovent Biologics Company Profile

Innovent Biologics is a China-based biopharmaceutical company focused on the research, development, manufacturing and commercialization of high-quality biologic therapies. Founded in 2011 and headquartered in the Suzhou National Biotech R&D Park, the company specializes in innovative treatments across oncology, metabolic and ophthalmology indications. Innovent’s integrated model encompasses end-to-end capabilities, from early discovery and clinical development to large-scale manufacturing and market launch.

The company has built a diversified product portfolio that includes the anti-PD-1 monoclonal antibody sintilimab (Tyvyt), approved for lymphoma and non-small cell lung cancer in China, as well as multiple biosimilars such as IBI305 (a bevacizumab biosimilar) and IBI306 (an etanercept biosimilar).