Movement Alert｜Akeso Bio Falls 3.13% in Regular Trading, Ivonescimab Global Phase III Interim Analysis Missing Endpoint Continues to Weigh on Valuation

Market Focus

May 28

On May 28, Akeso Bio fell 3.13% in regular trading, trading at 112.0 HKD/share, with trading volume of HKD 306 million.

The decline reflects the market continuing to digest the disappointing interim results from the HARMONi-3 global pivotal Phase III study for its core product ivonescimab. Overseas partner Summit previously disclosed that the squamous cell carcinoma cohort targeting first-line treatment of metastatic non-small cell lung cancer failed to meet the pre-specified statistical significance threshold for progression-free survival, raising concerns over whether the strong clinical data observed in Chinese populations can be replicated globally. Despite the upcoming ASCO annual meeting opening on May 29 and the HARMONi-6 study being selected for a plenary session oral presentation, short-term valuation recovery momentum remains insufficient, with the stock having pulled back over 25% from its prior high.

Within the Biotechnology sector, the overall sector traded lower on the same day. Among individual stocks, 3SBIO down 5.90%, PEGBIO down 3.40%, REMEGEN down 2.98%, BEIGENE down 2.33%, INNOVENT BIO down 2.28%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Overseas partner Summit previously disclosed that the squamous cell carcinoma cohort targeting first-line treatment of metastatic non-small cell lung cancer failed to meet the pre-specified statistical significance threshold for progression-free survival, raising concerns over whether the strong clinical data observed in Chinese populations can be replicated globally. Despite the upcoming ASCO annual meeting opening on May 29 and the HARMONi-6 study being selected for a plenary session oral presentation, short-term valuation recovery momentum remains insufficient, with the stock having pulled back over 25% from its prior high.</p><p>Within the Biotechnology sector, the overall sector traded lower on the same day. 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Overseas partner Summit previously disclosed that the squamous cell carcinoma cohort targeting first-line treatment of metastatic non-small cell lung cancer failed to meet the pre-specified statistical significance threshold for progression-free survival, raising concerns over whether the strong clinical data observed in Chinese populations can be replicated globally. Despite the upcoming ASCO annual meeting opening on May 29 and the HARMONi-6 study being selected for a plenary session oral presentation, short-term valuation recovery momentum remains insufficient, with the stock having pulled back over 25% from its prior high.Within the Biotechnology sector, the overall sector traded lower on the same day. Among individual stocks, 3SBIO down 5.90%, PEGBIO down 3.40%, REMEGEN down 2.98%, BEIGENE down 2.33%, INNOVENT BIO down 2.28%.(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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