Why is Akeso stock rallying today?
Akeso stock experienced a significant rally of nearly 5.0% to reach HK$94.8 following the company's announcement of promising results from the Phase III HARMONi-2 study. The data, presented at the 2026 World Conference on Lung Cancer in Seoul, demonstrated that Akeso's bispecific antibody ivonescimab exhibited a median overall survival of 30.8 months compared to 22.6 months for pembrolizumab, resulting in a 27% decrease in the risk of death among patients with PD-L1-positive advanced non-small cell lung cancer.
The positive findings were further bolstered by favorable remarks from multiple analysts, such as UBS, CICC, SDIC Securities, and Daiwa, who have recently reaffirmed Buy ratings on the stock. Additionally, the U.S. FDA has accepted a Biologics License Application for ivonescimab in a related NSCLC indication, with a target filing date of November 14, 2026, providing a near-term regulatory catalyst for the company.
Despite these positive developments, Akeso managed to outperform the broader market, while the Hang Seng fell by 0.5%.
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