Summit Therapeutics up on report of talks for licensing deal with AstraZeneca

Summit Therapeutics

03/07/2025 16:00

** Shares of drug developer Summit Therapeutics SMMT.O rise 3% to $23.30

** AstraZeneca AZN.L is in talks to partner with Summit for up to $15 billion to license a lung cancer drug, ivonescimab, Bloomberg news reported, citing people familiar with the matter

** Summit is also talking to other major pharmaceutical companies about potential partnerships, the report said

** Summit did not immediately respond to Reuters' request seeking comment while an AstraZeneca spokesperson declined to comment

** Including session's move, stock up 25.6% YTD

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))