Daiwa downgraded AKESO from Buy to Hold due to a lack of short-term catalysts. The firm noted that AKESO's only significant product, the PD-1/VEGF bispecific tumor immunotherapy drug Ivonescimab, is awaiting the release of important data (HARMONi-3 'progression-free survival' data) by the end of the year. Daiwa is taking a wait-and-see approach, looking for meaningful developments beyond Ivonescimab before making further investment decisions.
