Movement Alert｜Akeso Falls 3.41% in Regular Trading, Buyback Plan Fails to Halt Post-ASCO Profit-Taking Pressure

Market Focus06-16

On June 16, Akeso (09926.HK) fell 3.41% in regular trading, trading at HK$86.1/share, with turnover of HK$118 million. The stock has now declined over 30% from its post-ASCO data release high.

On the news front, the company's core product ivonescimab (AK112) HARMONi-6 study reported positive OS results at the ASCO plenary session on June 1, after which event-driven funds have been consistently taking profits. The board previously approved a buyback plan of up to HK$200 million and management announced plans to increase holdings by up to HK$50 million, which only briefly supported the share price before selling pressure resumed dominance.

Additional headwinds include reports that the US may restrict investment in China's biotech sector and broader market concerns over innovative drug profitability. Despite multiple brokerages including Zhongtai Securities and Guotai Haitong maintaining buy ratings, capital outflows continue to dominate short-term price action, with the broader biotech sector remaining under pressure.

(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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