China (PRC) | Biotechnology History Made; HR of 0.66 Strong Beat Live from Chicago: Akeso made history as 1st China data in ASCO plenary - H-6 stat-sig OS HR 0.66 vs SoC (cons. 0.7-0.75) - landmark for PD1/ VEGF in 1L sqNSCLC. Ivo mOS not yet mature, may reach ~30m at final. W/ unprecedented OS, differentiated safety for combo, and 2-3 yr lead, we believe Ivo could become backbone therapy in >US$20B NSCLC mkt, despite Qs on elderly pop. Eyes on H-3 final PFS/interim OS in 2H from SMMT. Akeso remains top pic ...