Akeso's stock plummeted 9.65% during intraday trading on Monday, following negative news regarding a key clinical trial for a co-developed drug.

The decline came after Akeso's overseas partner, Summit Therapeutics, announced that the interim progression-free survival analysis of their jointly developed ivonescimab (a PD-1/VEGF bispecific antibody) in a global Phase 3 trial for first-line non-small cell lung cancer did not reach statistical significance. While the study will continue, the market interpreted the lack of an immediate positive signal as a setback for the drug's prospects.

Analysts noted that the failure to achieve significance at the interim analysis raised concerns about the drug's competitive positioning in the crowded oncology market. Akeso experienced a catch-up decline as trading resumed after the holiday period.