Update shared on03 Oct 2025
Fair value Increased 3.52%Analysts have raised their fair value estimate for Akeso from $169.47 to $175.45 per share, citing incremental improvements in company fundamentals and outlook.
What's in the News
- Ivonescimab, Akeso's globally first-in-class PD-1/VEGF bispecific antibody, is set for Late-Breaking Abstract presentation at the 2025 ESMO Congress. The Phase III trial results are positive in squamous NSCLC, and there is registration progress for first-line advanced lung cancer in China (Key Developments).
- Cadonilimab, in combination with chemotherapy, received approval from China’s NMPA as first-line treatment for advanced gastric cancer, following strong Phase III clinical outcomes. Final study data will be presented at ESMO 2025 (Key Developments).
- The first patient has been dosed in Akeso’s Phase II study of AK130, a TIGIT/TGF-b bifunctional antibody fusion protein, combined with ivonescimab for advanced pancreatic cancer. AK130 is the first therapy of its class in registrational development (Key Developments).
- Akeso advances global, multicenter Phase II and III studies exploring cadonilimab and ivonescimab combinations across multiple cancers, including hepatocellular carcinoma and IO-resistant lung cancer. This signals strategic pipeline expansion (Key Developments).
- The company completed a follow-on equity offering totaling HKD 3.52 billion, supporting continued R&D and clinical trial investments (Key Developments).
Valuation Changes
- Fair Value Estimate: Increased slightly from HK$169.47 to HK$175.45 per share.
- Discount Rate: Increased modestly from 6.89% to 6.94%.
- Revenue Growth Forecast: Declined marginally from 59.03% to 58.69%.
- Net Profit Margin: Decreased slightly from 40.81% to 40.72%.
- Future P/E Ratio: Lowered from 44.60x to 43.12x.
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