koto_feja Summit Therapeutics ( NASDAQ: SMMT ) traded higher on Thursday after the company said its lead asset, ivonescimab, became the first to outperform Merck’s ( NYSE: MRK ) ant-PD1 immunotherapy Keytruda in a late-stage trial for non-small cell lung cancer (NSCLC). Merck ( MRK ) shares reached a session low in reaction, while Summit ( SMMT ) witnessed over threefold rise in value. Citing interim data from its China-based HARMONi-2 Phase 3 trial, Summit ( SMMT ) said ivonescimab, a bispecific antibody blocking the cancer-causing PD-1 receptor, met its primary endpoint of progression-free survival (PFS) as a first-line therapy.
HARMONi-2, conducted by its Chinese partner Akeso ( OTCPK:AKESF ), was designed to evaluate ivonescimab against Keytruda, also known as pembrolizumab, in patients with locally advanced or metastatic NSCLC. Florida-based Summit ( SMMT ) said the PFS advantage was seen across different patient groups, including those with low or high PD-L1 expression and squamous or non-squamous histologies. Full results from the trial are expected at a medical event later this year.
“This is an historic moment for ivonescimab, Team Summit, our partners at Akeso, and most importantly, we believe this is the beginning of a paradigm change for treatment options for patients living with cancer,” CEO Robert Duggan remarked. More on Summit Therapeutics Summit: A Few Catalysts In Q2 Of 2024 To Carry The Tide Summit Therapeutics' Ivonescimab: Strong Buy Its Dual-Action.
