Akeso (HKG:9926) and Summit Therapeutics suffered a setback after less favorable clinical data for its ivonescimab lung cancer drug diminished hopes for approval, the South China Morning Post reported Monday.
The US Food and Drug Administration indicated a "statistically significant" overall survival benefit, from start of treatment to death, not just delayed tumor progression, is needed for US approval, the report said, citing Summit.
The drug showed progression-free survival but had not yet shown a good enough survival benefit for patients in its study for US approval, the report said.
Shares in Akeso jumped 7% during afternoon trading on Tuesday.
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