Citi has elevated its value goal for Akeso Inc (9926: HK) shares to HK$70.00, up from the earlier HK$64.00, whereas reiterating a Purchase score on the inventory.
The adjustment follows Akeso’s latest presentation of constructive HARMONi-2 examine outcomes on the World Convention on Lung Most cancers (WCLC).
Akeso’s Ivonescimab demonstrated a big enchancment in median progression-free survival (mPFS) in sufferers with PD-L1 constructive (TPS≥1%) non-small cell lung most cancers (NSCLC) when in comparison with pembrolizumab.
The examine confirmed an mPFS of 11.14 months for Ivonescimab versus 5.82 months for pembrolizumab, with a hazard ratio (HR) of 0.51 and a p-value lower than 0.0001.
In keeping with the evaluation, the progression-free survival profit was constant throughout main medical subgroups. This included sufferers with each high and low PD-L1 expression ranges, and people with squamous or non-squamous superior NSCLC.
Moreover, Ivonescimab was reported to have a manageable security profile, with no grade 3 or greater hemorrhage noticed in sufferers with squamous NSCLC.
Citi’s report means that the compelling knowledge surpasses market expectations and posits that the favorable PFS hazard ratio is more likely to translate right into a clinically significant general survival (OS) profit. This optimism is mirrored within the agency’s resolution to lift the goal value for Akeso’s inventory.
This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.
