Movement Alert｜AKESO Falls 3.12% in Regular Trading, Positive ESMO Biliary Cancer Phase III Data Fails to Offset Placement Overhang

Market Focus10-26

On October 26, AKESO fell 3.12% in Regular Trading, trading at HK$84.1, with turnover of HK$166 million.

The move came even after the company disclosed positive Phase III results for ivonescimab in first-line treatment of advanced biliary tract cancer, with the study selected for oral presentation at the ESMO Presidential Symposium.

Background details show HARMONi-GI1/AK112-309 is a randomized, controlled, double-blind, registrational Phase III trial enrolling 682 patients, comparing ivonescimab plus chemotherapy against durvalumab plus chemotherapy. The indication has also been proposed for priority review in China. However, AKESO recently completed a placement of 20 million new shares at HK$97.76 per share, raising net proceeds of about HK$1.941 billion, and the dilution and post-financing trading pressure appear to still be weighing on sentiment.

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