Summit Therapeutics Rallies After Lung Cancer Drug Shows Positive Results

Dow Jones

Apr 23, 2025

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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