Summit Therapeutics

Summit Therapeutics reports positive phase-3 data from the global HARMONi study: the combination of Ivonescimab plus chemotherapy increased median progression-free survival in EGFR-mutated, advanced non-small cell lung cancer to 6.8 months versus 4.4 months with chemotherapy plus placebo. The hazard ratio of 0.52 indicates a markedly reduced risk. The data are likely to affect clinical assessment and market expectations for Summit Therapeutics. » Más en finanzen.net

Summit Therapeutics shares rose 8.5% in premarket trading after positive Phase‑III data for lead candidate Ivonescimab: partner Akeso reported a preliminary successful interim analysis in advanced cholangiocarcinoma showing a significant overall survival advantage versus Durvalumab plus chemotherapy. Summit also published a Lancet Oncology analysis showing a halved risk of progression (hazard ratio 0.52) in EGFR‑mutant non‑small cell lung cancer. Guggenheim reiterated a buy rating with a $38 target, while Bernstein SocGen raised its rating to “Market Perform” and increased the target to $11.90. Investors are now focused on the upcoming FDA decision in November as the next key milestone. » Más en de.investing.com

Bernstein upgraded Summit Therapeutics from “Underperform” to “Market Perform” and raised the price target from $9.80 to $11.90, saying the current share price better reflects the risk‑adjusted value of Ivonescimab. The analysis puts the probability of success for the phase‑3 ILLUMINE trial at 35% and factors in a small chance of positive results in urothelial or head‑and‑neck tumors. Ongoing FDA review of the approval filings, with a decision target in November 2026, remains a long‑term catalyst, while competitive pressure in oncology is cited as a structural risk; the stock rose 1.1% in pre-market trading. » Más en de.investing.com