** Shares of China's Innovent Biologics 1801.HK jump 10% to HK$82.4, on course for the biggest one-day pct gain since June 4, 2025

** Stock hit the highest level since May 22 and on track to snap four straight declining sessions

** Top pct gainer in Hang Seng Biotech Index .HSBIO, which gains 0.5%

** Innovent and U.S. pharma giant Pfizer PFE.N have agreed to a global licensing and collaboration deal worth up to $10.5 billion to develop 12 early-stage cancer medicines, as global drugmakers race to tap China's booming biotech pipeline

** The deal also includes a $650 million upfront payment to Innovent and up to $9.85 billion in potential development, regulatory and commercial milestone payments

** YTD, stock up 4.9%, while benchmark Hang Seng Index .HSI down 2.2%