Summit Therapeutics (US:SMMT) The Motley Foolยท2025-05-02 12:30Core Insights - Summit Therapeutics has seen a remarkable stock increase of 512% over the past year, primarily due to the clinical progress of its leading candidate, ivonescimab [1][2] - The company has licensed ivonescimab from Akeso, a China-based biopharmaceutical firm, and holds marketing rights in most regions outside of China, including the U.S. and Europe [3] - Ivonescimab is currently not approved in the U.S. but has received approval in China and is undergoing multiple clinical trials [4] Clinical Trial Results - A recent phase 3 clinical trial in China for ivonescimab in advanced squamous non-small cell lung cancer (NSCLC) showed statistically significant improvement in progression-free survival compared to Tevimbra, a competitor drug [5] - However, preliminary data from another phase 3 trial against Merck's Keytruda indicates that ivonescimab has not yet achieved a statistically significant improvement in overall survival [6][7] - Despite the mixed results, ivonescimab is involved in over a dozen other clinical trials targeting various cancer types, with NSCLC being a particularly attractive market due to its high mortality rate [8] Future Outlook - Ivonescimab has the potential to be a "pipeline in a drug," suggesting that it could lead to multiple label expansions beyond its initial indication [9] - The company is expected to continue experiencing volatility in the short term due to its clinical-stage status and broader market conditions, but long-term investment could yield significant returns [10]