On September 4, AKESO rose 5.73% in regular trading, trading at 96.5 HKD/share, with turnover of approximately 102 million HKD, extending a rally that began the previous session.

The movement is driven by the company's announcement on September 3 that its first-in-class PD-1/VEGF bispecific antibody ivonescimab achieved a statistically significant and clinically meaningful overall survival benefit versus pembrolizumab (Keytruda) in the interim analysis of the Phase 3 HARMONi-2 trial. The study enrolled 398 patients with PD-L1-positive locally advanced or metastatic non-small cell lung cancer. This marks the second consecutive head-to-head OS win for ivonescimab, following its positive OS result against durvalumab in the Phase 3 HARMONi-GI1 biliary tract cancer trial disclosed on August 26. Additionally, ivonescimab's third lung cancer indication for first-line squamous NSCLC was approved in August. Guoxin Securities maintained an Outperform rating, citing accelerating volume from ivonescimab and cadonilimab following national medical insurance inclusion, with H1 commercial sales revenue reaching RMB 1.803 billion, up 28.65% year-over-year.

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