Understanding the Market | AKESO rises over 3% again as institutions expect the company's medical insurance coverage to further drive product sales growth

AKESO rose over 3% again, with a cumulative increase of over 30% in the past six trading days. As of the time of writing, it rose 2.67% to HKD 3.08, with a trading volume of HKD 17.76 million. CMB International released a research report stating that AKESO's performance last year and in the second half of last year exceeded expectations. The company's product sales saw strong growth last year, and the firm expects that the group's medical insurance coverage will drive further sales growth this year and achieve breakeven. The firm noted that as the overseas registration research of Ivosidenib enters the sprint stage, more new antibody, ADC, and autoimmune candidates are entering clinical development, continuously enhancing the value of the company's pipeline. Citigroup pointed out that AKESO's product sales revenue in 2024 is expected to be RMB 2 billion, a year-on-year increase of 25%. It anticipates that the rapid volume increase of Cadonilimab and Ivosidenib after being included in the national medical insurance drug list will promote the commercialization process, along with the key data disclosure of Ivosidenib, leading to accelerated sales growth this year. Huatai Securities believes that the company's fundamentals are outstanding, with core products included in medical insurance and new indications gradually approved, which is expected to achieve sales growth. Additionally, the core pipeline has strong global potential, with multiple new drugs entering the clinical stage, solidifying the foundation for development