Summit Therapeutics rises on clinical trial collaboration with Pfizer

Summit Therapeutics

24/02/2025 11:41

** Shares of drug developer Summit Therapeutics  SMMT.O 
rise 6.2% to $23.50 premarket
    ** Co says it is collaborating with Pfizer  PFE.N  to study
its experimental drug ivonescimab in combination with several of
Pfizer's targeted cancer therapies called antibody drug
conjugates (ADCs) across different types of tumors
    ** Under the agreement, SMMT will provide ivonescimab for
the studies, which PFE will conduct 
    ** Studies expected to start mid-year
    ** SMMT's drug has previously showed better survival rates
in some lung cancer patients in a trial in China, outdoing
Merck's  MRK.N  blockbuster Keytruda
    ** Stock has risen 5x in the last 12 months after
outperforming Keytruda - the world's biggest drug with more than
$29 billion in sales last year - in those studies

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com;))