Summit Shares Soar After Cancer Drug Tops Merck's Keytruda

Summit Shares Surge as Ivonescimab Outperforms Merck's Keytruda in Trial

Significant Trial Success
Summit Therapeutics reported that their drug, ivonescimab, significantly improved progression-free survival in non-small cell lung cancer patients compared to Merck’s Keytruda.

Record Stock Increase
Following the announcement, Summit's stock price soared by 272%, marking the largest increase in the company's history.

Global Potential
Analysts predict that ivonescimab's success in China will likely be replicated in other international trials, suggesting broad global efficacy.

Impact on Merck
Contrastingly, Merck's shares fell by 1.1% as Summit's trial results became public, reflecting the competitive impact of the new findings.

Summit Therapeutics' stock experienced a significant surge following the announcement of positive trial results for their cancer drug, ivonescimab. The shares rose by 272%, marking the biggest increase on record for the company2. This dramatic rise occurred after the trial data showed that ivonescimab had a "statistically significant and clinically meaningful improvement" in progression-free survival compared to Merck & Co.’s Keytruda, when used as monotherapies in treating non-small cell lung cancer. Conversely, Merck's shares slipped by 1.1%, erasing earlier gains.