Lung Cancer Drug Trial News Has Summit Therapeutics Stock Up 40% Today

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 ...