On August 18, AKESO fell 3.09% in regular trading, trading at HK$87.7/share, with turnover of HK$285 million. The stock extended its multi-day decline as profit-taking pressure persisted following the approval of its core product ivonescimab for a third indication.

On August 12, AKESO announced that the National Medical Products Administration (NMPA) approved ivonescimab in combination with chemotherapy as a first-line treatment for advanced squamous non-small cell lung cancer (sq-NSCLC). The approval was based on Phase III HARMONi-6 trial results showing median overall survival of 27.89 months versus 23.69 months for the control group (HR=0.66, P=0.0017). However, this positive catalyst had already driven eight consecutive days of gains prior to the formal approval, and the stock has since faced sustained selling pressure as investors locked in profits.

Within the Biotechnology sector, performance was mixed. BEONE MEDICINES rose 1.31%, while INNOVENT BIO fell 1.89%, REMEGEN fell 3.52%, 3SBIO fell 1.77%, and DUALITYBIO-B fell 3.71%. AKESO's decline was broadly in line with sector weakness, reflecting a classic buy-the-rumor-sell-the-news pattern.

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