Daiwa has released a research report noting that the pre-specified interim overall survival (OS) analysis for AKESO's (09926) Phase III study of ivonescimab as a first-line treatment for PD-L1-positive non-small cell lung cancer (NSCLC), as evaluated by an independent data monitoring committee, has met the key secondary OS endpoint. The firm maintains a "Buy" rating on the company.

Daiwa believes this outcome further validates the OS clinical benefit of ivonescimab in the first-line NSCLC setting, demonstrating a successful translation from the robust progression-free survival (PFS) advantage observed earlier. The firm points to previously disclosed data showing a median PFS of 11.14 months for the ivonescimab arm versus 5.82 months for the control arm receiving pembrolizumab, with a PFS hazard ratio (HR) of 0.51 (P<0.0001).

In addition, the company had earlier reported a preliminary interim OS HR of 0.777. While detailed figures from this latest interim OS analysis have yet to be published, Daiwa asserts that the positive result helps modestly increase confidence in the likelihood of achieving an OS success in the ongoing global Phase III trial for first-line NSCLC.