On May 21, Akeso Inc rose 3.22% in regular trading, trading at 121.8 HKD/share, with trading volume of HKD 380 million. The rally was primarily driven by the imminent lifting of the ASCO abstract embargo and broad-based strength across the biotech sector.

On the news front, the ASCO official website was set to lift the embargo on most regular abstracts today, which would fully reveal detailed poster presentations for the company's key products ivonescimab and cadonilimab, covering new indication expansion data in head and neck squamous cell carcinoma and metastatic colorectal cancer. Notably, ivonescimab has been selected for an ASCO plenary session oral presentation, heightening market expectations for the upcoming academic window.

The rebound comes after the stock had declined significantly from its April high of HKD 156, representing a cumulative pullback exceeding 26%, following the HARMONi-3 global Phase III mid-term analysis where the PFS endpoint in the squamous cell carcinoma cohort failed to reach statistical significance. Within the Biotechnology sector, multiple peers gained in tandem, with SKB Bio up 4.39%, Remegen up 3.50%, BeiGene up 3.15%, and Innovent Bio up 3.15%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)