Summit Hits Record High on Lung Cancer Drug Topping Merck's Keytruda

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 ...