Stock Track | Akeso Plummets 9.65% Intraday After Partner's Clinical Trial Disappointment

Stock Track
May 04

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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10