Summit Therapeutics (SMMT) over the weekend presented data from a Phase 3 Study of ivonescimab versus Merck’s (MRK) Keytruda as first-line treatment for PD-L1- positive advanced non-small cell lung cancer. Ivonescimab demonstrated a statistically significant 5.3 months of improvement in progression free survival versus Keytruda, the company said. Shares of Summit Therapeutics are up 41%, or $4.98, to $17.25 in premarket trading while Merck is down 4% to $113.45.
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