Shares of Summit Therapeutics (SMMT) surged 56% on Monday after it reported additional results from the phase III HARMONi-2 study, which compared its investigational antibody ivonescimab (SMT112) with Merck's (MRK) blockbuster drug Keytruda (pembrolizumab) in certain patients with non-small cell lung cancer (NSCLC). Data from the study showed that the drug reduced the risk of disease progression or death by nearly half when compared to Keytruda. This data conforms with the initial results reported by SMMT i ...

The clinical-stage drugmaker's cancer therapy candidate outperformed Keytruda, the world's top-selling cancer drug. Shares of Summit Therapeutics (SMMT 55.99%) recently jumped in response to positive clinical trial results for its experimental cancer therapy. Results of the phase 3 Harmoni-2 trial suggest newly diagnosed lung cancer patients are better off with its cancer drug candidate, ivonescimab, than the current standard of care, Keytruda from Merck (MRK -2.06%). With global sales that rose 19% last ye ...

The company's new lung cancer treatment could unseat Merck's Keytruda in the $50 billion-plus lung cancer treatment market. Shares of Summit Therapeutics (SMMT 57.62%) rocketed as high as 75.2% Monday, before settling into a 57.5% gain as of 1:27 PM EDT. The biotech firm released the results of a Phase III study on Sunday at the 2024 World Conference on Lung Cancer in San Diego. The data showed its lung cancer treatment Ivonescimab outperformed Pembrolizumab, also known as Keytruda, the current standard of ...

Morsa Images Summit Therapeutics (NASDAQ:SMMT) and its partner in China Akeso just announced positive data from its phase 3 HARMONi-2 study, which used its PD-1/VEGF bispecific antibody ivonescimab for the treatment of patients with locally advanced or metastatic non-small cell lung cancer [NSCLC] who have positive PD-L1 expression. This is the first drug candidate that has gone toe to toe with Merck (MRK) Keytruda for the treatment of this patient population. That is, ivonescimab is the first type of drug ...

Key Takeaways Summit Therapeutics reported positive results from a Phase 3 trial in China of its lung cancer treatment ivonescimab. The drug reduced the risk of disease progression or death in 49% of those studied compared to other treatments, the company said. The news sent Summit Therapeutics shares to an all-time high. Shares of Summit Therapeutics (SMMT) skyrocketed Monday, rising to an all-time high after the biotech announced positive results from a late-stage trial of its experimental lung cancer tre ...

Core Insights - Summit Therapeutics Inc. released positive data from the Phase 3 HARMONi2 trial of ivonescimab, showing significant efficacy against Merck's Keytruda in treating non-small cell lung cancer [1][2] Trial Results - Ivonescimab demonstrated a statistically significant improvement in progression-free survival (PFS) with a hazard ratio of 0.51, reducing the risk of disease progression or death by 49% compared to Keytruda [2][3] - The median PFS for ivonescimab was 11.14 months, compared to 5.82 months for Keytruda [3] - The overall response rate (ORR) for ivonescimab was 50% versus 38.5% for pembrolizumab, and the disease control rate (DCR) was 89.9% compared to 70.5% [4] Future Plans - Summit plans to initiate the HARMONi-7 trial in early 2025, comparing ivonescimab monotherapy to pembrolizumab in patients with high PD-L1 expression [5] - Data from a Phase 2 trial of ivonescimab alone or in combination with chemotherapy in resectable non-small cell lung cancer was also shared [5] Safety and Efficacy in Neoadjuvant Setting - In a cohort of 39 patients receiving ivonescimab plus chemotherapy, 71.8% experienced a major pathological response, and 43.6% had a pathological complete response [6] - The median event-free survival (EFS) was not reached after 8.9 months of follow-up, with a 12-month EFS rate of 80.3% [7] - The safety profile was manageable, with no treatment-related adverse events leading to surgery delays or patient deaths [7] Market Reaction - Following the announcement, SMMT stock rose by 30.4%, reaching $16.00 in premarket trading [7]

First Release of Phase III Head-to-Head Clinical Study Data of Ivonescimab versus Pembrolizumab in NSCLC Ivonescimab Is the First Drug to Achieve Clinically Meaningful Benefit over Pembrolizumab in a Randomized Phase III Clinical Trial in NSCLC HONG KONG, Aug. 11, 2024 /PRNewswire/ -- Akeso, Inc. (HKEX: 9926.HK) ("Akeso,") today announced two upcoming oral presentations of ivonescimab (PD-1/VEGF bispecific antibody) at the IASLC 2024 World Conference on Lung Cancer hosted by the International Association fo ...

Summit Therapeutics Inc. (NASDAQ:SMMT) Q2 2024 Results Conference Call August 6, 2024 9:00 AM ET Company Participants Dave Gancarz - Chief Business and Strategy Officer Bob Duggan - Chairman and Chief Executive Officer Maky Zanganeh - Chief Executive Officer, President Manmeet Soni - Chief Operating Officer Allen Yang - Chief Medical Officer Conference Call Participants Dara Azar - Stifel Yigal Nochomovitz - Citigroup Mitchell Kapoor - H.C. Wainwright Operator Good morning, and welcome to Summit Therapeutic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ FORM 10-Q _________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-36866 _______________________________ Summit Therapeutics Inc. (Exact nam ...

Summit Therapeutics Reports Financial Results and Operational Progress for the Second Quarter and Six Months Ended June 30, 2024 Ivonescimab Monotherapy Achieved Statistically Significant & Clinically Meaningful Improvement over Pembrolizumab Monotherapy Head-to-Head in HARMONi-2 Phase III Trial in 1L Advanced NSCLC Positive HARMONi-A Data Featured at ASCO and Published in JAMA Supporting Ivonescimab's First Regulatory Approval in China for 2L+ EGFRm Advanced NSCLC HARMONi and HARMONi-3 Enrollment Continues ...