Akeso Surges Over 6% Intraday as Guosen Securities Initiates 'Outperform' Rating

Deep News08-27

Akeso (09926) climbed more than 6% during Wednesday's trading session before paring gains, last up 2.34% at HK$96.40 with turnover reaching HK$686 million.

On August 26, Akeso announced that its phase III registrational study (AK112-309/HARMONi-GI1) evaluating ivonescimab (依沃西) combined with chemotherapy versus durvalumab plus chemotherapy as first-line treatment for advanced biliary tract cancer (BTC) met its primary endpoint of overall survival (OS) at a pre-specified interim analysis conducted by an independent data monitoring committee (IDMC). The results demonstrated statistically significant and clinically meaningful improvement in OS, marking a positive outcome for the randomized, double-blind, controlled, multicenter study.

Guosen Securities Co.,Ltd. issued a research note highlighting that ivonescimab, Akeso's core product, has achieved significant clinical milestones this year. Following the notable OS benefit observed in the HARMONi-6 trial, the HARMONi-GI1 study represents the first positive phase III result outside of lung cancer, further underscoring the drug's potential across multiple tumor types.

The brokerage noted that ivonescimab is set to undergo global multicenter phase III validation over the next year, which could unlock its commercial value worldwide. With Akeso's global R&D capabilities and the expected rapid uptake of its products in large indications upon inclusion in China's national medical insurance reimbursement list, Guosen Securities Co.,Ltd. maintains its earnings forecast and has assigned an "Outperform" rating to the stock.

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.

Comments

We need your insight to fill this gap
Leave a comment