AKESO's stock surged 6.61% during intraday trading on Thursday, marking a significant rebound for the biopharmaceutical company.

The rally was primarily driven by the imminent lifting of the ASCO abstract embargo, which is expected to reveal detailed poster presentations for the company's key products ivonescimab and cadonilimab. These presentations will cover new indication expansion data in head and neck squamous cell carcinoma and metastatic colorectal cancer, with ivonescimab having been selected for an ASCO plenary session oral presentation.

The movement also reflects broad-based strength across the biotech sector and comes after the stock had declined significantly from its April high, representing a cumulative pullback exceeding 26% following earlier clinical trial results.