By Rob Curran
Summit Therapeutics shares rallied after its lung cancer drug candidate showed that it improved patients' longevity without the disease worsening in a late-stage trial.
Shares of Summit rose 11% to $30.41 premarket trading Thursday.
The Miami biotech firm said its ivonescimab drug met the primary goal of progression-free survival when tested in combination with a platinum-based chemotherapy on patients with a certain type of non-small cell lung cancer.
The Phase 3 clinical trial is being conducted in China in partnership with Chinese biotech firm Akeso to evaluate a combination of ivonescimab and platinum-based chemotherapy against tislelizumab combined with platinum-based chemotherapy in patients with locally advanced or metastatic squamous non-small cell lung cancer irrespective of PD-L1 expression.
Patients taking the ivonescimab regimen saw a statistically significant and clinically meaningful improvement in progression-free survival compared to those taking the tislelizumab regimen, Summit said.
"Ivonescimab has the opportunity to make a significant, positive difference, potentially providing patients with the next generation of treatment options against insidious solid tumors beginning with non-small cell lung cancer," said President and Co-Chief Executive Maky Zanganeh, in a statement.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 23, 2025 07:17 ET (11:17 GMT)
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