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What will be Summit's revenue from their lung cancer drug by end of 2024?
5
Resolution / Starting Odds
Less than 500 million USD • 25%
500 million - 1 billion USD • 25%
1 billion - 2 billion USD • 25%
More than 2 billion USD • 25%
Company's financial statements and earnings reports
Story
Summit Therapeutics' Lung Cancer Drug Outperforms Keytruda in HARMONI-2 Phase 3 Trial, Shares Up 227% in China
May 30, 2024, 09:15 PM
Summit Therapeutics announced that its experimental therapy for non-small cell lung cancer met the primary endpoint in the HARMONI-2 Phase 3 trial conducted in China. The trial demonstrated that Summit's drug outperformed Merck's Keytruda in a head-to-head comparison, leading to a significant increase in Summit's share price, which rose by 227%. The drug acts against both PD1 and VEGF, suggesting a broader mechanism of action compared to Keytruda, which targets only PD1. Summit's market cap reached 5 billion. However, there are concerns about the FDA's recognition of data from Chinese trials, and the trial's success was measured by PFS, not OS.
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Below $5 billion • 25%
$5 billion to $10 billion • 25%
$10 billion to $15 billion • 25%
Above $15 billion • 25%
Below $50 • 33%
Between $50 and $100 • 33%
Above $100 • 33%
Additional Phase 3 trials • 33%
FDA Approval without additional trials • 33%
FDA Rejection • 33%
Progression-Free Survival (PFS) • 33%
Overall Survival (OS) • 33%
Both PFS and OS • 33%
No new partnerships • 33%
Partner with a major pharmaceutical company • 33%
Partner with multiple smaller pharmaceutical companies • 33%
Less than $500 million • 33%
$500 million to $1 billion • 33%
Greater than $1 billion • 34%