Movement Alert｜Akeso Inc Falls 3.88% in Regular Trading, Sustained Selling Pressure Post-ASCO Data as Buyback Fails to Reverse Trend

Market Focus06-22

On June 22, Akeso Inc (09926.HK) fell 3.88% in regular trading, trading at HK$82.45/share with turnover of HK$169 million, approaching its 52-week low of HK$82.85.

The decline reflects continued profit-taking following the company's core product Ivonescimab (HARMONi-6) Phase III overall survival positive data presented at the ASCO plenary session on June 1. Event-driven funds have been persistently unwinding positions, with the stock now down over 30% from its post-data high. The board's previously announced HK$200 million buyback plan and management's proposed HK$50 million personal stake increase have failed to effectively reverse the downtrend.

Adding further pressure, market concerns over potential US restrictions on China biotech investment and doubts about innovative drug profitability weighed on the broader sector. Within the Biotechnology sector, INNOVENT BIO fell 4.79%, REMEGEN fell 4.60%, 3SBIO fell 4.31%, BEIGENE fell 3.36%, and SKB BIO fell 6.88%.

(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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