Summit falls after not disclosing overall survival benefit in lung cancer trial

Summit Therapeutics

20/10/2025 12:42

** Shares of drug developer Summit Therapeutics SMMT.O fall 3.7% to $20.22 premarket

** Co said on Sunday ivonescimab plus chemo cut risk of disease progression or death by 40% vs generic tislelizumab and chemo in a type of lung cancer in a trial conducted by partner Akeso 9926.HK in China

** We expect SMMT to trade modestly negative given the lack of overall survival disclosure, and some signals that benefit will likely degrade - brokerage Leerink Partners

** Squamous NSCLC is a type of non-small cell lung cancer that forms in the thin, flat cells lining the airways in the lungs

** Co plans to file for potential FDA approval in Q4

** Up to last close, stock up ~18% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.pandey@thomsonreuters.com))