Movement Alert｜Akeso Falls 3.16% in Regular Trading, Post-ASCO Profit-Taking Extends Selloff Below HKD 100

Market Focus06-04 10:22

On June 4, Akeso (09926.HK) fell 3.16% in regular trading, trading at HKD 99.3/share with trading volume of HKD 434 million, breaking below the psychologically significant HKD 100 level.

The decline represents a continuation of profit-taking following the realization of a major catalyst at the ASCO annual meeting. On June 1, the company presented positive interim OS results from its Phase III HARMONi-6 study of ivonescimab plus chemotherapy in first-line squamous NSCLC, achieving an HR of 0.66 (P=0.0017) with a 34% reduction in death risk — the first global Phase III study to demonstrate both OS and PFS superiority over PD-1 plus chemotherapy in lung cancer. Despite the landmark data, event-driven funds have been systematically exiting positions since the data release, with the stock declining over 14% cumulatively across three sessions. Reports that the US may restrict investment in Chinese biotech further weighed on sector sentiment. Within the Biotechnology sector, BeiGene rose 2.84%, while Innovent fell 0.78%, 3SBio fell 2.02%, RemeGen fell 0.48%, and DualityBio fell 4.35%.

(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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