JMP Securities initiated coverage on Summit Therapeutics, highlighting the potential of their oncology drug Ivonescimab (PD-1 X VEGF bispecific) in treating lung cancer. The drug has shown promising results in clinical trials, outperforming leading treatments like Keytruda and Opdivo. With numerous Phase 3 studies underway and strong head-to-head data, Ivonescimab could become a significant player in the NSCLC market, potentially generating billions in revenue.
Summit Therapeutics’ ivonescimab demonstrated a significant improvement in progression-free survival compared to Keytruda in a Phase 3 trial for non-small cell lung cancer. The drug also showed positive results in a Phase 2 trial for resectable lung cancer, highlighting its potential as a promising treatment option.
Summit Therapeutics shares surged in pre-market trading after positive clinical trial results for their cancer drug. Other notable pre-market movers include Intelligent Bio Solutions, Tonix Pharmaceuticals, and Nuburu, while Wheeler Real Estate and Golden Minerals experienced significant declines.
