licensing deals

Adeia's CLO Kevin Tanji sold $3.15M in stock (24% of holdings) near all-time highs, marking his first open-market sale. Analysts suggest current $ADEIA valuations at 27x P/E are stretched, favoring sellers over buyers.

InnoCare Pharma achieved 644 million yuan profit in 2025, two years ahead of schedule, driven by product sales and licensing partnerships. Hong Kong-listed shares trade at modest 14x P/S ratio.