Movement Alert｜Akeso Falls 3.43% in Regular Trading, Post-ASCO Profit-Taking Persists as Biotech Sector Weakens Again

Market Focus06-25

On June 25, Akeso (09926.HK) fell 3.43% in regular trading, trading at HK$84.25/share, with turnover of HK$188 million. The stock is approaching its previous 52-week low zone.

On the news front, the company continues to face sustained selling pressure following the release of positive ivonescimab HARMONi-6 overall survival data at ASCO. The stock has now declined over 30% from its post-data high, as investors lock in profits. Despite the board approving a buyback plan of up to HK$200 million and management announcing plans to purchase up to HK$50 million in shares, near-term selling pressure remains unabsorbed.

The broader biotech sector also weighed on sentiment, with Carsgen Therapeutics down 5.82%, Remegen down 2.69%, and Innovent Biologics down 2.12% during the same session. Multiple brokerages including CITIC Securities and Industrial Securities have recently maintained Buy or Overweight ratings, citing the milestone significance of the OS data and projecting over $15 billion in ivonescimab revenue potential by 2033, yet market sentiment has yet to stabilize decisively.

(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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