On September 29, AKESO rose 10% in regular trading. The surge was driven by AstraZeneca's announcement of a $2 billion strategic investment in Summit Therapeutics through a preferred stock subscription at $18.36 per share equivalent, representing an 18.6% premium over Summit's closing price.

The core asset underlying this transaction is ivonescimab, the world's first PD-1/VEGF bispecific antibody developed by AKESO, which was out-licensed to Summit for a potential total deal value of up to $5 billion. The market widely views this as a significant endorsement of ivonescimab's global commercial potential by a top multinational pharmaceutical company. Earlier in September, ivonescimab demonstrated a statistically significant overall survival benefit in the Phase 3 HARMONi-2 trial, with a median OS of 30.8 months versus 22.6 months for pembrolizumab in first-line PD-L1-positive NSCLC. Multiple international investment banks maintain Buy ratings, with CICC raising its target price to HK$130 and Jefferies maintaining a target of HK$226.

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