Update shared on29 Jul 2025
Fair value Increased 14%The consensus price target for Akeso has increased, primarily reflecting higher growth expectations as indicated by a substantial rise in the Future P/E, alongside a modestly lower discount rate, resulting in a revised fair value of HK$118.36.
What's in the News
- NMPA accepted Akeso's sNDA for ivonescimab with chemotherapy as first-line treatment for advanced sq-NSCLC following positive Phase III results; ivonescimab now has three accepted applications in China and is in over 12 global Phase III trials across multiple cancers.
- First patient enrolled in pivotal Phase III trial of ivonescimab (with/without ligufalimab) plus chemotherapy for first-line metastatic pancreatic cancer, targeting a major unmet need where immunotherapies have so far failed.
- First patient enrolled in Phase III trial of ivonescimab for first-line advanced metastatic colorectal cancer, following promising Phase II results with high response and disease control rates.
- First patient dosed in Phase Ia trial for AK146D1, Akeso's first bispecific ADC targeting Trop2 and Nectin4, with regulatory clearance to begin clinical trials in the US, Australia, and China; AK146D1 aims to overcome resistance seen with single-target ADCs.
- NMPA approved cadonilimab (PD-1/CTLA-4 bispecific antibody) for first-line treatment of advanced cervical cancer, expanding its indications to include first-line advanced gastric cancer and relapsed/metastatic cervical cancer after platinum-based chemotherapy.
Valuation Changes
Summary of Valuation Changes for Akeso
- The Consensus Analyst Price Target has significantly risen from HK$103.55 to HK$118.36.
- The Future P/E for Akeso has significantly risen from 51.21x to 68.98x.
- The Discount Rate for Akeso has fallen slightly from 7.01% to 6.81%.
Disclaimer
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