Summit gains on updated trial data for experimental lung cancer drug
SMMT•Summit shares rise on updated ivonescimab data
Shares of Summit Therapeutics SMMT.O rose 3% to $15.12.
The company said updated overall survival data from its late-stage trial showed its experimental drug ivonescimab, when combined with chemotherapy, continued to improve survival in patients with a type of non-small cell lung cancer.
The longer follow-up suggests the survival benefit previously seen in Asian patients is now being replicated in patients from North America and Europe - SMMT.
In the latest analysis, based on a June 2026 data cutoff, the overall survival hazard ratio was 0.76 in both the overall study population and the Western patient subgroup.
TD Cowen said the results strengthen ivonescimab's approval prospects and suggest the consistency seen between Asian and Western patients could extend to ongoing first-line non-small cell lung cancer studies and potentially other cancer indications.
As of last close, SMMT was down 16.4% year to date.
