Reported 4 months ago
Shares of Summit Therapeutics Inc. surged after their cancer drug, ivonescimab, outperformed Merck's Keytruda in a late-stage trial for non-small cell lung cancer patients in China. The study showed a significant improvement in progression-free survival. Summit's stock rose by 272%, while Merck's shares declined. Analysts anticipate positive results in trials in other countries, emphasizing the drug's potential across various solid tumors. The study was conducted by Summit's partner, Akeso Inc., and previous trial data for ivonescimab had disappointed investors.
Source: YAHOO