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Akeso Biopharma Reports 53% Revenue Decline in 2024 Despite Growth in Product Sales
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China-based Akeso Biopharma (HKG: 9926) released its 2024 financial report, recording RMB 2.124 billion (USD 293 million) in revenues, a 53.08% year-on-year (YOY) decrease. Despite the overall revenue decline, product sales grew significantly to RMB 2 billion (USD 276 million), up 24.88% YOY. Licensing income was reported at RMB 121.6…
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Akeso Biopharma’s Ivonescimab Earns Category 1 Recommendation in China’s 2024 Lung Cancer Clinical Guideline
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Akeso Biopharma, a China-based pharmaceutical company listed on the Hong Kong Stock Exchange (HKG: 9926), has achieved a significant milestone with its bispecific antibody ivonescimab (AK112). This innovative drug, which targets both programmed death-1 (PD-1) and vascular endothelial growth factor (VEGF), has been included in the “Clinical Practice Guideline for…
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Akeso Biopharma’s Ivonescimab NDA Accepted by NMPA, Strengthening NSCLC Treatment Options
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Akeso Biopharma (HKG: 9926), a biopharmaceutical company based in China, has received a significant boost with the acceptance of its New Drug Application (NDA) by the National Medical Products Administration (NMPA) for Yidafang (ivonescimab), a pioneering bispecific antibody targeting both programmed death-1 (PD-1) and vascular endothelial growth factor (VEGF). This…
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Akeso Receives First $300M Installment from Summit for Bispecific Antibody Ivonescimab
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Akeso Inc. (HKG: 9926) has announced receiving the first installment of USD 300 million as part of an upfront fee paid by US-based Summit Therapeutics Inc. (NASDAQ: SMMT) under the firms’ December 2022 licensing deal for the bispecific antibody (BsAb) ivonescimab. The initial payment includes USD 274.9 million in cash…
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Akeso’s Ivonescimab Secures Record-Breaking Out-License Deal with Summit Therapeutics
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A new bar was set for the most valuable out-license deal struck by a China-based company, as Akeso Inc., (HKG: 9926) handed US firm Summit Therapeutics Inc., (NASDAQ: SMMT) exclusive development and commercialization rights to the bispecific antibody (BsAb) ivonescimab. The deal covers the territories of the United States, Canada,…
