Summit Therapeutics Stock Soars on Positive Lung Cancer Trial Results

Summit Therapeutics (NASDAQ:SMMT) stock is soaring after its development partner Akeso Inc. reported highly favorable overall survival data from a late-stage clinical trial.

The Phase 3 HARMONi-2 study evaluated ivonescimab as a standalone treatment against Merck & Co Inc.'s Keytruda (pembrolizumab) for locally advanced or metastatic non-small cell lung cancer (NSCLC) with positive PD-L1 expression.

Akeso revealed that ivonescimab monotherapy provided a statistically significant improvement in overall survival compared to pembrolizumab, according to the preplanned clinical analysis.

This is not the first time ivonescimab has shown promise; it achieved a hazard ratio of 0.51 and demonstrated a clinically meaningful benefit across various patient subgroups in China's National Medical Products Administration-approved trial.