Akeso's drug ivonescimab has demonstrated strong clinical results for a type of lung cancer, potentially capturing a significant share of the US$20 billion market and leading to upward revisions in target prices.

Akeso, whose drug ivonescimab was hailed as biotech’s “DeepSeek moment” amid US competition last year, announced better-than-expected clinical results showing it can treat a type of lung cancer commonly found in smokers, potentially expanding its approved uses. Analysts suggest it could become a backbone therapy in the US$20 billion global non-small cell lung cancer market and have revised their target prices upwards. The drug’s phase three trial found that ivonescimab reduced the risk of death....