Ivonescimab reduces lung cancer death risk by 34% in phase 3 trial

Ivonescimab, a lung cancer drug developed by Akeso, reduced the risk of death by 34% in a phase 3 trial for non-small cell lung cancer. Analysts predict it could become a backbone therapy in the $20 billion global market, leading to upward target price revisions. The trial results, filed with the Hong Kong stock exchange on Monday, showed 64.7% of patients alive after two years versus 48.6% in the control group. Despite the positive data, Akeso's Hong Kong-listed shares fell 1.86% to HK$115.9, while the Hang Seng Index rose 0.86%.