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AKESO Opens Down ~15%; Nomura Downgrades Rating to Neutral
2025-04-28 09:28:58 After opening down 14.96% today (28th), AKESO (09926.HK) sank to a bottom of $84.1. It last traded at $84.1, down 14.96%, on a volume of 1.254 million shares and a turnover of $105 million. The company announced the global first-in-class PD-1/VEGF bi-specific antibody, ivonescimab, has received approval from the National Medical Products Administration (NMPA) for its supplementary New Drug Application (sNDA) for use as a monotherapy for the first-line treatment of PD-L1-positive non-small cell lung cancer (NSCLC) in patients who are negative for epidermal growth factor receptor (EGFR) gene mutations and anaplastic lymphoma kinase (ALK) gene mutations. This indication marks ivonescimab’s second major approval. In the intent-to-treat (ITT) population, an interim analysis of OS conducted at 39% data maturity (α=0.0001) indicated a clinically meaningful improvement in OS with ivonescimab compared to pembrolizumab, with a HR of 0.777, reflecting a 22.3% reduction in the risk of death. Nomura considered this as positive and largely in line with investor expectations in its report. However, for investors hoping for a "home run" with even better HR data, this result may be disappointing. As indicated by the alpha value (0.00001), more time is needed to analyze the final OS data. In addition, as AKESO's stock price surged 50% in April 2025, some investors may choose to take profit on this news. Nomura downgraded its rating for the company to Neutral but raised the target price to $99.66. ~ AAStocks Financial News Web Site: www.aastocks.com | |