On May 22, Akeso Bio fell 3.75% in regular trading, trading at 114.6 HKD/share, with trading volume of HKD 128 million. The decline reflects the market continuing to digest the disappointing interim results from the HARMONi-3 global pivotal Phase III study of its core product ivonescimab.

On the news front, overseas partner Summit previously disclosed that the HARMONi-3 interim analysis targeting the squamous cell carcinoma cohort in first-line treatment of metastatic non-small cell lung cancer failed to meet the pre-specified statistical significance threshold for progression-free survival. This has raised persistent concerns over whether the superior clinical results observed in the Chinese population can be replicated globally. Summit's stock had previously plunged over 25% in a single session following the disclosure. Akeso Bio has now fallen more than 26% from its April high of 156 HKD.

Notably, on the same day the broader biotech sector showed mixed-to-positive performance, with Kelun-Biotech up 4.1% and 3SBio up 1.42%, making Akeso Bio's decline a significant underperformer relative to the sector.

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