China's Hinova hits 2-1/2-month high on licensing deal with Evommune

By Reuters News03:13 (UTC), 5 November 2026 Updated

** Shares of Hinova Pharmaceuticals 688302.SS jump as much as 14.8% to 37.97 yuan, highest level since August 20

** Stock last up 9%, on track for a second straight session of gain

** Evommune EVMN.N said on Wednesday it had licensed rights to an experimental autoimmune disease treatment EVO570 from China's Hinova in a deal worth up to about $1.1 billion in milestone payments

** California-based drug developer will pay Hinova $30 million upfront and Hinova will also be eligible for up to about $1.1 billion in development, regulatory and commercial milestone payments, as well as tiered royalties on future sales

** YTD, Hinova stock down 27.1%, benchmark CSI300 Index .CSI300 down 11.1%

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