Ivonescimab Outperforms Keytruda in Chinese Lung Cancer Trial, Summit Shares Soar

Summit Therapeutics Inc. (SMMT) shares surged over 12% on Thursday after its partner Akeso Inc. released data from a Phase 3 trial of ivonescimab, an experimental cancer drug.

The trial compared ivonescimab to Merck's Keytruda in patients with non-small cell lung cancer (NSCLC) and found that the treatment extended their lives longer than the blockbuster immunotherapy. The study was conducted entirely in China, where Akeso has treated over 70,000 patients with ivonescimab.

The trial, known as HARMONi-2, showed a statistically significant improvement in overall survival for patients taking ivonescimab monotherapy compared to those taking pembrolizumab (Keytruda) monotherapy. This is a secondary endpoint of the study, and full results are expected at an upcoming medical conference.

Akeso has reported positive data from five other Phase 3 trials of ivonescimab, including three in NSCLC and one in biliary tract cancer.