Movement Alert｜Akeso Inc Falls 3.1% in Regular Trading, Biotech Sector Extends Post-ASCO Pullback as Profit-Taking Continues

Market Focus06-03 09:59

On June 3, Akeso Inc (09926.HK) fell 3.1% in regular trading, trading at 102.0 HKD/share, with trading volume of HKD 502 million. The decline marks the third consecutive session of weakness following the companys ASCO catalyst event.

The selloff reflects continued profit-taking after the companys core product ivonescimab (PD-1/VEGF bispecific antibody) delivered positive OS data at the ASCO Plenary Session on June 1, where HARMONi-6 showed a 34% reduction in death risk for first-line squamous NSCLC patients. On that day, shares surged over 10% intraday before reversing to close down 1.86% on record turnover of HKD 7.04 billion, followed by a further 4.49% decline on June 2 amid large block selling. Market analysis attributes the ongoing weakness to event-driven funds exiting after data disclosure, compounded by reports of potential US restrictions on Chinese biotech investment dampening short-term sentiment.

Within the Biotechnology sector, peers also declined broadly: Innovent Bio down 3.11%, BeiGene down 2.55%, 3SBio down 3.56%, Everest Medicines down 3.03%, and RemeGen down 4.04%.

(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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