HK Stock Market Move | AKESO (09926) rises over 6% against the market, the company has received payment for the development of Tegolimab monoclonal antibody new drug collaboration.

AKESO (09926) rose more than 6% against the market, as of the time of writing, up 6.38% to HK$62.5, with a turnover of HK$511 million. On the news front, AKESO announced that its innovative humanized monoclonal antibody tislelizumab, targeting programmed cell death ligand 1 (PD-L1), has recently been approved for listing by the China National Medical Products Administration. The company has received the corresponding new drug development payment from Sichuan Kelun Pharmaceutical Research Institute Co., Ltd. According to the contract, in addition to the payments for new drug development, AKESO will also continue to receive a proportionate royalty from the commercial sales of tislelizumab after its approval for listing. Earlier reports from Huatai pointed out that AKESO's continuous clinical breakthroughs demonstrate its global potential, with tislelizumab showing significant therapeutic benefits in multiple clinical trials, especially in the HARMONi-2 study where it outperformed pembrolizumab, highlighting its global market potential. The firm expects that the overseas exploration of tislelizumab will continue to enhance its peak revenues and company valuation, maintaining a "buy" rating.