Summit gains after partner Akeso secures China nod for lung cancer combo
12/08/2026 14:42
BUZZ-Summit gains after partner Akeso secures China nod for lung cancer combo ** Shares of Summit Therapeutics SMMT.O rise 3% to $15.58
** Co says its partner Akeso 9926.HK announced the marketing authorization in China for the use of ivonescimab, in combination with chemotherapy, for the first-line treatment of patients with advanced squamous non-small cell lung cancer
** Ivonescimab belongs to a newer class of medicines known as bispecific antibodies, which have dual targets
** The drug is under U.S. FDA review for previously treated EGFR-mutated advanced non-squamous NSCLC, with a decision due on November 14 this year
** Summit holds commercial rights to ivonescimab outside China under a $5 billion licensing deal with Akeso
** As of last close, stock down 13.6% YTD
(Reporting by Siddhi Mahatole)
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