On September 14, LEADS BIOLABS-B fell 5.07% in regular trading, trading at 57.45 HKD/share, with turnover of approximately HKD 18.55 million. The decline comes amid heightened competitive dynamics during the World Lung Cancer Conference (WCLC) in Seoul.

On the news front, competitor AKESO released significant positive OS results from its HARMONi-2 study on September 13, a head-to-head trial of its core product Ivonescimab versus Pembrolizumab in first-line PD-L1-positive advanced NSCLC. AKESO rose 3.65% at open on September 14. Meanwhile, LEADS BIOLABS-B is scheduled to present updated, more mature Phase II data for LBL-024 combined with chemotherapy in first-line NSCLC on September 14, with median follow-up extending to 7.1 months from the prior 3.6 months. Market participants are uncertain whether LBL-024 can demonstrate PFS levels comparable to PD-1×VEGF bispecific antibodies, a key benchmark for validating its competitive positioning. The stock had already retreated from above HKD 70 in late August, amplifying short-term trading pressure ahead of the data readout.

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