Jefferies has released a research report indicating that AKESO (09926) achieved positive results from its HARMONi-2 study of Ivonescimab. The data showed that the interim overall survival (OS) analysis reached statistical significance, with the drug demonstrating a notable extension in OS compared to Pembrolizumab as a first-line monotherapy for PD-L1-positive non-small cell lung cancer.
The investment bank believes that Ivonescimab holds a distinct OS advantage, and the data is encouraging. Consequently, Jefferies maintains a "Buy" rating on AKESO with a target price of HK$226.
The data revealed that the median OS for the Ivonescimab group was 30.8 months, with a hazard ratio of 0.73 and a median follow-up of 36 months, whereas the Pembrolizumab group achieved a median OS of 22.6 months.