BOUNCE

[cintrix]

SMMT down 32% In a regulatory filing on Friday, Summit referenced top-line data included in a presentation by its Chinese partner, Akeso, at the 2024 American Society of Clinical Oncology (ASCO) annual meeting. Patients receiving ivonescimab in combination with chemotherapy had a median progression-free survival of 7.06 months compared to 4.8 months for patients receiving only chemotherapy. However, 61.5% of patients receiving the combo experienced severe or medically significant treatment-emergent adverse events.

Some good news for Summit Therapeutics
Investors reacted negatively to the late-stage data for ivonescimab. However, there was some good news: China's National Medical Products Administration gave the drug its first regulatory approval on Friday as a second-line treatment for patients with epidermal growth factor receptor (EFGR) mutated, advanced or metastatic NSCLC.