Why Is Summit Therapeutics Stock Trading Higher On Monday?

Summit Therapeutics Inc. SMMT on Friday noted that Akeso, Inc. announced the Chinese Health Authorities, the National Medical Products Administration (NMPA) approved ivonescimab for a second indication based on the results of the Phase 3 trial, HARMONi-2 or AK112-303. On Friday, Summit Therapeutics stock closed almost 30% lower at around $23.47. HARMONi-2 evaluated monotherapy ivonescimab, PD-1/VEGF bispecific antibody, against monotherapy Merck & Co Inc's MRK Keytruda (pembrolizumab) in patients with local ...