Akeso to raise about HK$1.94 billion in share placement as ivonescimab takes on PD-1

Akeso (09926.HK) plans to place 20 million new shares at HK$97.76 each, a 6.90% discount to the previous close, through Morgan Stanley Asia to at least six placees. The placement would raise about HK$1.955 billion gross and HK$1.941 billion net. The company's bispecific antibody ivonescimab is positioned to challenge PD-1 inhibitors as first-line standard treatment in lung cancer.