koto_feja Summit Therapeutics ( NASDAQ: SMMT ) shares fell in the premarket Friday as investors reacted to data from a Phase 3 trial for its lead asset, ivonescimab, developed in partnership with Chinese biotech Akeso ( OTCPK:AKESF ). The readout represented initial data from the companies’ HARMONi-A trial, which involved 322 patients with non-squamous non-small cell lung cancer whose tumor harbored a mutation called EGFR. They had been randomized to receive ivonescimab plus chemotherapy or placebo plus chemotherapy as a late-line therapy.
According to a data cut on March 10, 2023, patients on ivonescimab lived a median of about seven months without disease progression (median progression-free survival). In comparison, those in the placebo + chemo arm indicated a median PFS of about five months. However, in terms of safety, treatment-emergent adverse events (TEAE) categorized as Grade 3 or higher, occurred in ~62% of patients in the on-drug arm compared to ~49% in the off-drug arm.
According to researchers, the most common TEAE grade ≥3 TEAEs were chemotherapy-related. Ahead of the readout, Citi launched its coverage on Summit ( SMMT ) with a Buy recommendation, citing positive data from HARMONi-A. More on Akeso, Summit Therapeutics, etc.
Summit: A Few Catalysts In Q2 Of 2024 To Carry The Tide Summit Therapeutics' Ivonescimab: Strong Buy Its Dual-Action Approach To Cancer Summit Therapeutics Inc. (SMMT) Q1 2024 Earnings Call Transcript Summit spikes as Citi launches at Bu.
