Summit Therapeutics (SMMT) Climbs 15.4% Ahead of Pipeline Q2 Updates

Summit Therapeutics Inc. (NASDAQ:SMMT) is one of the 10 Stocks Investors Are Buying Now.

Summit Therapeutics climbed by 15.44 percent on Wednesday to close at $17.94 apiece, as investors repositioned portfolios ahead of updates on a clinical trial for its lung cancer treatment candidate, Ivonescimab.

Within the second quarter of the year, Summit Therapeutics Inc. (NASDAQ:SMMT) is targeting to conduct an early analysis of its Harmoni 3 trial for the squamous group to see the efficacy of Ivonescimab combined with chemotherapy in patients with first-line metastatic non-small cell lung cancer (NSCLC). Final data on the progression-free survival (PFS) is targeted in the second half of the year.

Photo by Roger Brown on Pexels

Meanwhile, enrollment is underway for the non-squamous group, and is targeted for completion in the second half of the year. Final PFS is expected in the first half of 2027.

Meanwhile, Summit Therapeutics Inc. (NASDAQ:SMMT) said that Ivonescimab is likewise being studied in a phase 3 trial to evaluate its efficacy in combination with ligufalimab—a proprietary anti-CD47 monoclonal antibody—against monotherapy pembrolizumab. The study aims to see the overall survival from the treatment.

In January this year, Summit Therapeutics Inc. (NASDAQ:SMMT) successfully submitted its biologics license application for Ivonescimab, in combination with chemotherapy, in patients with EGFR-mutated locally advanced or metastatic non-squamous NSCLC, who have received prior EGFR TKI therapy.

The Food and Drug Administration provided a Prescription Drug User Fee Act (PDUFA) goal action date of November 14, 2026.

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