AKESO's stock surged 5.07% during intraday trading on Friday, driven by positive market sentiment surrounding an upcoming key data presentation at a major medical conference.
The company's core product ivonescimab's HARMONi-6 study has been selected for a plenary session oral presentation at the ASCO Annual Meeting. This marks the first time a First-in-Class bispecific antibody from China has been featured in an ASCO plenary session, and it's the only China-originated innovative drug study in this year's plenary lineup.
The presentation will disclose overall survival data from a head-to-head comparison against tislelizumab plus chemotherapy in first-line treatment of advanced squamous non-small cell lung cancer. This comes after the stock had been under sustained pressure following disappointing interim results from the global Phase III HARMONi-3 study, with today's rebound suggesting the imminent plenary data release is serving as a near-term re-rating catalyst.