On September 1, AKESO fell 3.06% in regular trading, trading at HKD 87.0/share with turnover of HKD 271 million, extending the prior session's over 5% decline.

The sustained selloff reflects two converging headwinds. First, the company's interim results showed H1 total revenue of RMB 1.806 billion, up 27.92% year-over-year, with commercial sales revenue of RMB 1.803 billion rising 28.65%, driven by core products ivonescimab and cadonilimab. However, the company posted a net loss of RMB 447 million — narrowing roughly 24% from a year earlier — with both revenue and gross profit falling short of market expectations. Operating cash flow turned positive at approximately RMB 290 million, and the sales expense ratio declined to 43.56% from 47.80%.

Second, AstraZeneca's PD-1/CTLA-4 bispecific antibody clinical failure has fueled broader skepticism toward the bispecific antibody approach. Although AKESO's Chairman Xia Yu publicly pushed back, stating that structural differences across molecules make it invalid to dismiss the entire class based on one setback, market concerns persist. Notably, some brokerages including Guojin Securities have maintained Buy ratings, citing accelerating volume from new indications and national reimbursement inclusion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)