Stock Track | Summit Therapeutics Soars 9.06% in Pre-market on Positive Lung Cancer Drug Trial Results

Stock Track

06/01

Summit Therapeutics PLC (SMMT) stock soared 9.06% in pre-market trading on Monday, reflecting significant investor optimism following a major clinical development announcement.

The sharp increase is attributed to the company's presentation of positive Phase 3 HARMONi-6 trial results for its investigational drug ivonescimab at the ASCO 2026 conference. The data showed that the PD-1/VEGF bispecific antibody, combined with chemotherapy, met the prespecified interim overall survival endpoint for first-line advanced squamous non-small cell lung cancer (NSCLC).

Earlier interim results from the trial demonstrated a median progression-free survival of 11.1 months for the ivonescimab group versus 6.9 months for the control group, with a hazard ratio of 0.60. The positive survival data for the drug, which is approved in China and investigational elsewhere, has generated significant investor optimism regarding its potential market success.

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