In today’s briefing:
- Akeso Biopharma (9926.HK) – Behind the Outstanding Performance in 2022 and the Potential Challenges
Akeso Biopharma (9926.HK) – Behind the Outstanding Performance in 2022 and the Potential Challenges
- Akeso achieved outstanding product sales last year, mainly due to off-label prescriptions.It means Akeso has “overdrawn” AK104’s performance on other indications in advance. Sales could significantly slow down over time.
- It is difficult to turn loss into profit by selling drugs alone. As the profits from selling drugs are far lower than R&D expenditures, losses are the norm.
- Akeso is overvalued, but if AK112 is successful in head-to-head trial with Keytruda, Akeso would be a player to compete on international stage. Its valuation would reach a new level.
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