Innovent Biologics, Inc. (OTCMKTS:IVBXF) Sees Significant Decline in Short Interest

Innovent Biologics, Inc. (OTCMKTS:IVBXF) was the recipient of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 12,411 shares, a decline of 98.9% from the May 14th total of 1,080,288 shares. Based on an average daily trading volume, of 4,135 shares, the days-to-cover ratio is presently 3.0 days.

Innovent Biologics Price Performance

IVBXF traded down $0.99 during trading on Tuesday, hitting $9.10. The company’s stock had a trading volume of 755 shares, compared to its average volume of 5,283. Innovent Biologics has a twelve month low of $9.10 and a twelve month high of $15.12. The stock’s fifty day moving average price is $10.67 and its 200-day moving average price is $10.78.

About Innovent Biologics

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).