Loading...
Market
Story
Summit Therapeutics' Ivonescimab Outperforms Keytruda in Phase 3 Lung Cancer Trial, Stock Soars 225%
May 30, 2024, 08:01 PM
Summit Therapeutics announced that its experimental therapy, Ivonescimab, met the primary endpoint in the Harmoni-2 Phase 3 trial for non-small cell lung cancer (NSCLC) conducted in China. The drug, which targets both PD-1 and VEGF, outperformed Merck's Keytruda in progression-free survival (PFS), leading to a significant increase in Summit's stock price, which soared by 225%. The company's market cap reached $5 billion. However, it is important to note that the FDA does not recognize data from Chinese trials, which may impact future regulatory approval.
View original story
Similar markets
Phase III trial in the US • 25%
Approval in China • 25%
Approval in the EU • 25%
Partnership with another pharmaceutical company • 25%
Additional Phase 3 trials • 33%
FDA Approval without additional trials • 33%
FDA Rejection • 33%
Only in China • 25%
In China and one other major market (e.g., US or EU) • 25%
In China and multiple other major markets • 25%
In no major markets • 25%
Summit Therapeutics ($SMMT) • 33%
BioNTech ($BNTX) • 33%
Merck ($MRK) • 34%
Below $5 billion • 25%
$5 billion to $10 billion • 25%
$10 billion to $15 billion • 25%
Above $15 billion • 25%