Akeso, Inc.

Akeso, Inc.

9.50
EUR
-1.12
(-10.55%)
11.33BMarket Cap
Mar 31Next Earn
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
- -
0.09
- -
0.28
1.02
5.4
2.5
3.39
- -
Basic EPS, GAAP
-0.19
-0.37
-1.65
-1.32
-1.42
2.42
-0.6
-1.23
- -
Free Cash Flow per Basic Share
-0.26
-0.6
-1.7
-2.1
-2.48
1.9
-1.32
-1.92
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.58
-0.01
4.05
3.87
3.13
5.58
7.59
9.82
9.82
Tangible Book Value per Share
0.52
-0.2
3.86
3.69
2.94
5.2
7.23
9.47
9.47
Basic Weighted Avg Shares
763
763
629
816
825
838
851
903
903
Sales/Revenue/Turnover
3
71
- -
226
838
4,526
2,124
3,056
- -
Operating Margin (%)
-5,860.33
-361.12
- -
-561.3
-145.89
47.87
-23.73
-27.74
- -
Depreciation Expense
13
16
22
58
106
143
194
262
- -
Net Income, GAAP
-142
-335
-1,177
-1,075
-1,168
2,028
-515
-1,113
- -
Effective Tax Rate (%)
- -
- -
- -
- -
- -
0.01
- -
- -
- -
Profit Margin (%)
-5,035.63
-473.18
- -
-476.42
-139.48
44.81
-24.22
-36.42
- -
Working Capital
371
1,136
2,831
2,497
1,697
4,472
7,005
9,082
9,082
LT Debt
38
111
182
806
1,427
2,586
3,407
3,964
3,964
Total Equity
488
216
3,450
3,280
2,548
4,519
6,753
8,946
8,946
Return on Invested Capital (%)
- -
- -
- -
- -
- -
36.12
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
36.88
- -
- -
- -
Return on Common Equity (%)
- -
- -
- -
-33.86
-40.29
55.36
-8.94
-14.03
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
545
519
592
LT Borrowings
3,406
4,014
3,955
LT Finance Leases
1
10
9
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
898
898
921
Market Capitalization
49,785
76,533
93,127

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
8,692
8,939
11,277
Cash, Cash Equivalents & STI
7,316
7,074
9,128
Accounts Receivable, Net
525
809
1,022
Inventories
707
847
932
Total Current Liabilities
1,687
2,016
2,195
Payables & Accruals
- -
- -
- -
ST Debt
545
519
592
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
26.4%
32.46%
Free Cash Flow
- -
-42.72%
54.7%
Net Income, GAAP
- -
-56.53%
116.33%
Sales/Revenue/Turnover
- -
- -
43.9%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
4,526
2024
- -
- -
2,124
2025
- -
- -
3,056

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
2.42
2024
- -
- -
-0.6
2025
- -
- -
-1.23

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -

Company Description

CEO
Yu Xia
Full Time Employees
3,761
Sector
Health technology
Industry
Pharmaceuticals: major
Address
No. 6, Shennong Road Zhongshan GD China 528437
IPO Date
Apr 24, 2020
Business
Akeso, Inc. is a biopharmaceutical company specializing in the research, development, manufacturing, and commercialization of innovative antibody drugs globally. The company’s core product portfolio includes first-in-class and best-in-class immuno-oncology bispecific antibodies such as cadonilimab and ivonescimab, both approved and commercially marketed. Akeso focuses on immuno-oncology therapies targeting various cancers including non-small cell lung cancer, small cell lung cancer, biliary tract cancer, head and neck squamous cell carcinoma, triple-negative breast cancer, colorectal cancer, and pancreatic cancer. The company also develops antibody-drug conjugates (ADCs) including novel bispecific ADCs like AK146D1 and HER-3 targeting ADC AK138D1, which are under global clinical trials. Beyond oncology, Akeso advances autoimmune and chronic disease treatments with products such as ebdarokimab (IL-12/IL-23), ebronucimab (PCSK9), gumokimab (IL-17), manfidokimab (IL-4Rα), and emerging candidates for neurological diseases. Founded in 2012 and headquartered in China, Akeso operates a fully integrated end-to-end drug development system, combining proprietary platforms like the ACE Platform and Tetrabody bispecific antibody technology with GMP-compliant manufacturing and global commercialization capabilities. The company targets both Chinese and international markets and is expanding its global clinical development and commercialization footprint. In the last 1-2 years, Akeso has accelerated its "IO 2.0 + ADC 2.0" strategy, advancing immuno-oncology bispecific antibodies and ADCs with multiple candidates progressing to global Phase III clinical trials. Significant milestones include U.S. FDA approval of penpulimab, market approvals for ebdarokimab, and expanded indications for cadonilimab and ivonescimab, which have been included in China's National Reimbursement Drug List, boosting commercial sales. Akeso has reported record commercial sales, driven by these lead products, and is preparing further Phase III trials for additional oncology and non-oncology indications. It has also established global partnerships and alliances to enhance clinical advancement and commercialization efforts, positioning itself as a global leader in bispecific antibody and ADC innovation. Akeso’s pipeline comprises over 50 innovative candidates with 24 in clinical trials, including 15 bispecific/multispecific antibodies and bispecific ADCs, covering cancer, autoimmune, inflammation, metabolic, and neurological diseases. This robust pipeline combined with recent strategic expansions and regulatory approvals forms the basis of Akeso’s growth into a fully integrated global biopharmaceutical entity.

Company News

  • First Patient Dosed in Phase III Perioperative Study of Cadonilimab (PD-1/CTLA-4) in Colon Cancer

  • Ivonescimab Meets Overall Survival Key Secondary Endpoint in Interim Analysis of Phase III HARMONi-2 Study, Demonstrating Statistically Significant and Clinically Meaningful Benefit Versus Pembrolizumab in First-Line PD-L1-Positive NSCLC

  • Akeso Doses First Patient in Phase II Study of Novel TROP2/Nectin-4 Bispecific ADC (AK146D1) in Combination with Ivonescimab for Advanced NSCLC

  • HARMONi-6 Demonstrates Significant Overall Survival Benefit (HR=0.66): Ivonescimab Plus Chemotherapy Superior to PD-1 Plus Chemotherapy in First-Line sq-NSCLC Landmark Results to Be Presented at ASCO 2026 Plenary Session

  • Phase II Data from a Randomized Double-Blind Trial of Ligufalimab (Anti-CD47) Combination Therapy in Frontline AML Published at EHA 2026

  • Cadonilimab Combination Demonstrates Promising Survival Benefit in Locally Advanced Pancreatic Cancer: Phase II COMPASSION-26 Data Presented at AACR 2026

  • Ivonescimab Included in FirstWord Pharma's "The Drugs That Will Shape 2026"

  • Head-to-Head Real-World Data: Cadonilimab Outperforms PD-1 Inhibitors in First-Line PD-L1-Low Gastric Cancer

  • Ivonescimab's Updated Label Shows Positive Dual Results in PFS and OS from HARMONi-A Study

  • Cadonilimab (PD-1/CTLA-4) Receives FDA Clearance for Global Phase III First-Line Gastric Cancer Trial Versus Nivolumab

  • Updated Efficacy Data of Ivonescimab Combined with Chemotherapy as First-Line Treatment for TNBC Presented at ESMO IO 2025

  • Significant Improvement in Quality of Life Reported in Updated HARMONi-6 Data for Ivonescimab at ESMO Asia