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Investing.com - HSBC initiated coverage on Akeso Inc (HK:9926) with a Buy rating and a price target of HK$208.00 on Monday.
The initiation follows Akeso’s strong first-half 2025 results, which showed product sales increasing 49% year-over-year to RMB1.4 billion. The company’s AK112 drug achieved statistical and clinical benefit for overall survival in the China phase III HARMONi-A study for treating EGFRm NSCLC.
Ivonescimab (AK112), Akeso’s pioneer PD(L)1 dual-target antibody drug, outperformed Merck’s Keytruda in head-to-head lung cancer trials according to data presented at the World Lung Cancer Conference in 2024.
HSBC projects over 50% revenue CAGR for Akeso between 2025-2027, citing the company’s sales outlook as a key factor in its positive rating.
Akeso’s partnership with US biopharma Summit Therapeutics, established in December 2022, is expected to help expedite clinical progress and the launch of the new drug in the US market.
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