HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

2025 High Conviction – China Healthcare: Chinese Biotech to Compete on the International Stage

Pre-IPO CF PharmTech - The Outlook Is Bleak Due to VBP and Fierce Competition

Pre-IPO Xiamen Jihong Technology (PHIP Updates) - Lack of Sustainable Growth Logic

Akeso Biopharma Inc (9926 HK) - Something Beautiful Is Happening

Will China's Stock Market Continue to Soar? - Here Is the Outlook and Investment Strategy

Akeso Biopharma Placement (9926.HK) - Would Investors Be Willing to Take a Gamble?

Greatview Aseptic Packaging (468.HK) Update - Some New Information Worth the Attention

China TCM (570.HK) Privatization Update - The Long Stop Date to Extend or Not?

Equity Capital Markets

Akeso Biopharma Inc / Equity Capital Markets

<ul>
<li>HARMONi-2 results are impressive and the overall data is solid and reliable. The NMPA has approved NDA of ebronucimab and sNDA of cadonilimab. Akeso's fundamentals have indeed undergone positive changes.</li>
<li>Akeso's current market capitalization already partially reflects the positive expectation about the future successful FDA approval of AK112. In our view, the Placing Price is not cheap.</li>
<li>When the market value falls back to below RMB45 billion is a more comfortable valuation to buy Akeso, and below RMB35 billion market value provides a golden opportunity. </li>
</ul>


HARMONi-2 results are impressive and the overall data is solid and reliable. The NMPA has approved NDA of ebronucimab and sNDA of cadonilimab. Akeso's fundamentals have indeed undergone positive changes.
Akeso's current market capitalization already partially reflects the positive expectation about the future successful FDA approval of AK112. In our view, the Placing Price is not cheap.
When the market value falls back to below RMB45 billion is a more comfortable valuation to buy Akeso, and below RMB35 billion market value provides a golden opportunity. 


Akeso Biopharma Placement - The Placing Price Is Not Cheap Despite Positive Business Progress