HK Stock Market Move | AKESO (09926) rose more than 5%, Evotec will conduct joint therapy clinical trials with Pfizer's multiple ADCs drugs.

AKESO (09926) rose by over 5%, reaching 4.81% as of press time, at HK$71.95, with a trading volume of HK$9.44 billion. On the news front, on February 24, AKESO announced that its development partner Summit Therapeutics International had reached a clinical trial cooperation agreement with Pfizer to jointly advance the use of AKESO's independently developed PD-1/VEGF dual antagonist Ivosidenib in combination with Pfizer's various antibody-drug conjugates (ADCs) in the treatment of multiple solid tumors. The company stated that the goal of this collaboration is to explore the potential synergy of Ivosidenib in combination with Pfizer's vedotin series of ADCs in various solid tumors, accelerating the development of innovative combination therapies that may reshape the treatment landscape. Prior research reports by BOCOM INTL indicated that AKESO's two core commercial products were successfully included in the medical insurance negotiation in 2024, with annual treatment costs under the medical insurance payment standards around RMB 150,000-160,000, slightly better than previous expectations. The bank maintained a long-term sales peak forecast for Ivosidenib in mainland China at RMB 5.2 billion, and raised the peak forecast for Ivosidenib to RMB 5.4 billion to reflect the expansion opportunities beyond lung cancer indications.