Akeso (SEHK:9926) Dosed Its First AK138D1 Patient, Is The 47% Undervalued View Too Bullish?

Simply Wall St.08-03 19:20

Akeso (SEHK:9926) is back in focus after dosing the first patient in a Phase Ib/II trial of its HER3 antibody drug conjugate AK138D1 for advanced non small cell lung cancer. See our latest analysis ...

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See our latest analysis ...</p>\n\n<a href=\"https://simplywall.st/stocks/hk/pharmaceuticals-biotech/hkg-9926/akeso-shares/news/akeso-sehk9926-dosed-its-first-ak138d1-patient-is-the-47-und\">Source Link</a>\n\n</div>\n","source":"simplywall_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Akeso (SEHK:9926) Dosed Its First AK138D1 Patient, Is The 47% Undervalued View Too Bullish?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAkeso (SEHK:9926) Dosed Its First AK138D1 Patient, Is The 47% Undervalued View Too Bullish?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-08-03 19:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/hk/pharmaceuticals-biotech/hkg-9926/akeso-shares/news/akeso-sehk9926-dosed-its-first-ak138d1-patient-is-the-47-und><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Akeso (SEHK:9926) is back in focus after dosing the first patient in a Phase Ib/II trial of its HER3 antibody drug conjugate AK138D1 for advanced non small cell lung cancer. See our latest analysis ...</p>\n\n<a href=\"https://simplywall.st/stocks/hk/pharmaceuticals-biotech/hkg-9926/akeso-shares/news/akeso-sehk9926-dosed-its-first-ak138d1-patient-is-the-47-und\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1161","symbol_name":"生物科技","start_time":0,"source_url":"https://simplywall.st/stocks/hk/pharmaceuticals-biotech/hkg-9926/akeso-shares/news/akeso-sehk9926-dosed-its-first-ak138d1-patient-is-the-47-und","article_id":"2656937496","we_media_id":null,"thumbnails":["https://images.simplywall.st/asset/industry/6111000-choice1-main-header/1585186710114"],"rights":{"source":"simplywall_highlight","url":"https://simplywall.st/stocks/hk/pharmaceuticals-biotech/hkg-9926/akeso-shares/news/akeso-sehk9926-dosed-its-first-ak138d1-patient-is-the-47-und","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2656937496","pubTimestamp":1785756010,"columns":[],"sourceInfo":{"source_id":"simplywall_highlight","name":"Simply Wall St."},"weMediaInfo":null,"summary":"Akeso (SEHK:9926) is back in focus after dosing the first patient in a Phase Ib/II trial of its HER3 antibody drug conjugate AK138D1 for advanced non small cell lung cancer.\nSee our latest analysis for Akeso.\nAkeso’s latest trial milestone comes after a period where sentiment has cooled, with the share price at HK$91.95 and the 1-year total shareholder return down 39.55%, although the 3-year total shareholder return remains very strong.\nIf Akeso’s oncology work has caught your attention, this...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1161":"生物科技","LU0348735423.USD":"ALLIANZ HONG KONG EQUITY \"A\" (USD) INC","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","LU0417516738.SGD":"Allianz Hong Kong Equity AT Acc SGD","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU2488822045.USD":"ALLIANZ CHINA HEALTHY LIVING \"AT\" (USD) ACC","LU1720050803.USD":"安联全方位中国股票基金","LU2476274308.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (USD) ACC","IE00B543WZ88.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) ACC","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","BK1574":"生物医药B类股","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU2778985437.USD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"A\" (USD) INC","LU0348783233.USD":"安联东方收入型 CI A Dis美元","LU0348825331.USD":"ALLIANZ CHINA EQUITY \"A\" (USD) INC","09926":"康方生物","LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","LU2476274720.SGD":"ALLIANZ CHINA FUTURE TECHNOLOGIES \"AT\" (SGDHDG) ACC","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0348766576.USD":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","IE00B5MMRT66.SGD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (SGDHDG) ACC","LU0348767384.USD":"ALLIANZLITTLE DRAGONS \"A\" (USD) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","KURE":"KraneShares MSCI All China Health Care Index ETF","IE00BPRC5H50.USD":"NEUBERGER BERMAN CHINA EQUITY \"A\" (USD) INC","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","LU0348827113.USD":"ALLIANZ RCM CHINA \"AT\" ACC"},"translate_title":"Akeso (SEHK:9926) 为其首例 AK138D1 患者注射，47% 被低估的观点是否过于乐观？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KURE":0.6,"09926":1.98},"content_text":"Akeso (SEHK:9926) is back in focus after dosing the first patient in a Phase Ib/II trial of its HER3 antibody drug conjugate AK138D1 for advanced non small cell lung cancer. See our latest analysis for Akeso. Akeso’s latest trial milestone comes after a period where sentiment has cooled, with the share price at HK$91.95 and the 1-year total shareholder return down 39.55%, although the 3-year total shareholder return remains very strong. If Akeso’s oncology work has caught your attention, this could be a good moment to broaden your research and look at other healthcare AI opportunities using the 126 healthcare AI stocks After a sharp pullback despite strong 3 year returns and a fresh AK138D1 milestone, Akeso now sits at a very different entry point. Has most of the re rating already happened, or is meaningful upside still in front of you? AdvertisementMost Popular Narrative: 46.6% Undervalued Compared with Akeso’s last close at HK$91.95, the most followed narrative points to a fair value of HK$172.32. That gap rests on some punchy growth and profitability assumptions that go well beyond the current loss making base.  The company's strong R&D pipeline, including advanced bispecific antibodies and ADC candidates, provides a foundation for long-term growth, setting the stage for potential increases in net margins as products move from development to commercialization.  Read the complete narrative. Want to see what is doing the heavy lifting in that HK$172.32 fair value? The projections lean on rapid top line expansion, a sharp swing into profitability, and a premium earnings multiple usually reserved for market leaders. Curious which assumptions need to land for that to hold up. Result: Fair Value of HK$172.32 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Akeso’s story still carries real execution risk, from ongoing operating losses to heavy reliance on cadonilimab and ivonescimab to carry future revenue expectations. Find out about the key risks to this Akeso narrative. Another View on Akeso’s Valuation The community narrative leans on aggressive earnings forecasts, but the current market is sending a different message. Akeso trades on a P/S ratio of 23.9x, while the Hong Kong Biotechs industry sits at 11.3x, peers at 17.8x, and the fair ratio points to 14.4x. That gap means investors today are already paying a premium well above both the sector and what the fair ratio suggests the market could move towards. Is that extra multiple really the margin of safety you want, or more optimism than the story currently supports? See what the numbers say about this price — find out in our valuation breakdown. SEHK:9926 P/S Ratio as at Aug 2026Next Steps If the mixed sentiment on Akeso has you undecided, it makes sense to move quickly and review the numbers yourself. Start by weighing the 2 key rewards Looking for more ideas beyond Akeso? If Akeso has sharpened your interest, do not stop here. Broaden your watchlist with fresh ideas that match how you like to invest.  Target potential mispricings by scanning companies that look attractively valued using the 261 high quality undervalued stocks. Prioritise resilience by reviewing companies that pass strict balance sheet checks with the solid balance sheet and fundamentals stocks screener (415 results). Hunt for less crowded opportunities through the screener containing 536 high quality undiscovered gems before other investors catch on.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n        and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n        financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n        Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n        Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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