Stock Track | Akeso Soars on Promising Late-Stage Cancer Drug Trial Results

Stock Track09-10

Shares of Hong Kong-based biotech company Akeso Inc. (HKG:9926) skyrocketed over 16% in intraday trading on Monday, fueled by investor enthusiasm over positive Phase III trial results for the company's new cancer drug IVONESCIMAB.

Akeso presented the late-stage trial data at the IASLC 2024 World Conference on Lung Cancer, showing that IVONESCIMAB demonstrated statistically significant improvement and clinically meaningful benefit in treating EGFR mutated locally advanced or metastatic non-squamous non-small cell lung cancer patients, as compared to existing therapies.

The promising Phase III results represent a major milestone for Akeso's IVONESCIMAB program and pave the way for the biotech firm to seek regulatory approvals to bring the innovative lung cancer treatment to market. Lung cancer remains one of the most difficult cancers to treat, so a new effective therapy could significantly improve patient outcomes and create a lucrative commercial opportunity for Akeso if approved.

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