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Next milestone for Ivonescimab by end of 2024?
5
Resolution / Starting Odds
Phase III trial in the US • 25%
Approval in China • 25%
Approval in the EU • 25%
Partnership with another pharmaceutical company • 25%
Official announcements from Summit Therapeutics and clinical trial registries
Story
Summit Therapeutics' Stock Soars 225% After PD-1 Drug Ivonescimab Outperforms Keytruda in PFS NSCLC Trial in China
May 30, 2024, 07:10 PM
Summit Therapeutics' stock ($SMMT) surged by 225% following the announcement that its drug Ivonescimab, a PD-1 inhibitor, achieved a clinically meaningful benefit over Merck's Keytruda (Pembrolizumab) in a Phase III trial. The trial, named HARMONi-2, met its primary endpoint of progression-free survival (PFS) for patients with advanced non-small cell lung cancer (NSCLC) with PD-L1 expression. This unprecedented result caused Merck's ($MRK) shares to drop by 1.20% before rebounding slightly. BioNTech ($BNTX) shares also rose by 10% on the news. Summit's stock experienced multiple trading halts, with the second halt occurring at a 137% increase and close to $10 per share. The market cap of Summit Therapeutics is now estimated at $5 billion. The trial data was collected in China.
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FDA approval • 33%
EMA approval • 33%
No major milestone • 33%
FDA approval application • 25%
Partnership with another company • 25%
Further clinical trials • 25%
No significant action • 25%
Additional Phase 3 trials • 33%
FDA Approval without additional trials • 33%
FDA Rejection • 33%
Only in China • 25%
In China and one other major market (e.g., US or EU) • 25%
In China and multiple other major markets • 25%
In no major markets • 25%
No new partnerships • 33%
Partner with a major pharmaceutical company • 33%
Partner with multiple smaller pharmaceutical companies • 33%
Yes • 50%
No • 50%
Phase 3 trial initiation • 33%
Phase 3 trial completion • 33%
FDA submission • 34%