On July 7, Akeso Bio (09926.HK) fell 3.24% in regular trading, trading at HKD 98.5/share, with turnover of HKD 637 million. The decline came as the broader biotechnology sector experienced a pullback following a multi-day rally driven by innovative drug payment reform catalysts.

The biotech sector saw widespread weakness, with Remegen down 4.95%, Innovent Bio down 2.43%, BeiGene down 2.20%, Keymed Bio-B down 1.73%, and SKB Bio down 1.43%. The sector-wide retreat followed strong gains in prior sessions — Akeso Bio had risen 3.32% on July 6 and surged 8.02% on July 3 — fueled by the National Healthcare Security Administration's announcement of 557 drugs passing initial review for the medical insurance catalog and 54 drugs passing commercial insurance innovative drug catalog review.

Akeso Bio's fundamentals remain supported by multiple institutional buy ratings, with its core product ivonescimab achieving landmark OS data in the HARMONi-6 study and all five self-developed drugs included in the national medical insurance catalog. The company also approved a share repurchase of up to HKD 200 million in June.

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