On June 9, Akeso (09926.HK) fell 3.36% in regular trading, trading at HK$89.25/share, with trading volume of HK$228 million. The stock continued its sustained pullback following the release of positive clinical data at the ASCO annual meeting.

The decline extends a sharp correction that began after June 1, when Akeso's core product ivonescimab reported positive overall survival results from the Phase III HARMONi-6 study at the ASCO Plenary Session. Despite the data being hailed as a historic breakthrough — becoming the first global Phase III study to achieve both OS and PFS statistical significance versus PD-1 plus chemotherapy in squamous NSCLC — the stock has fallen over 20% in the past week, erasing more than HK$10 billion in market capitalization. Market participants attribute the selloff to event-driven funds taking profits after the catalyst materialized, compounded by reports of potential US restrictions on investment in Chinese biotechnology. The broader biotech sector remains under pressure, with peers including Innovent Biologics down 3.48%, BeiGene down 1.78%, and RemeGen down 1.60%.

(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.)