HK-listed Akeso slides to 3-week low

Akeso

23/04/2026 08:50

** Shares of antibody drugs developer Akeso Inc 9926.HK plunge 12.9% to HK$130, their lowest level since March 31

** Stock on track for the biggest one-day pct decline since April 7, 2025; top pct loser in Hang Seng Biotech Index .HSBIO, which is down 4.1%

** Stock up nearly 15% in the last three weeks

** "Think it should be profit taking after Akeso confirmed LBA (late-breaking abstract) in ASCO (American Society of Clinical Oncology)," said Cui Cui, head of Asia Healthcare at Jefferies

** Onshore investors had been betting on positive data since early March, and the LBA suggests potentially positive results but inline with market expectations, Cui says

** Nomura keeps "neutral" rating and lifts target price to HK$142.75 from HK$112.73, saying Akeso's ivonescimab is set to report overall survival (OS) data from HARMONi-6 trial at ASCO annual meeting from May 29 to June 2

** "The results should be good," Nomura wrote, adding the LBA in the plenary-session status suggests that the OS data is most likely to be positive

** YTD, stock up 15.5%, benchmark Hang Seng Index .HSI up 1.2%

 (Reporting by Donny Kwok and Andrew Silver)

 ((donny.kwok@thomsonreuters.com))