The efficacy crushes Astrazeneca PLC Sponsored ADR (AZN.US) Imfinzi! Summit (SMMT.US) The phase III trial data of Evosheld is positive, and the stock price responds with a significant rise.

On Wednesday, before the U.S. stock market opened, Summit Therapeutics (SMMT.US) saw its stock price jump more than 16% after the company announced positive data from its late-stage trials. The results showed that its core candidate drug ivonescimab (licensed from partner AKESO (09926)) outperformed the cancer drug Imfinzi (generic name: durvalumab) from Astrazeneca PLC Sponsored ADR (AZN.US) in terms of efficacy. The Phase III trial, named HARMONi-GI1, was led by Summits Chinese partner and aimed to evaluate the efficacy of ivonescimab in combination with chemotherapy against durvalumab combined with chemotherapy for first-line treatment of advanced biliary tract cancer. The data released this time are the top-line results of the trial. Interim analysis indicated that in terms of the primary endpoint of overall survival, the ivonescimab combination showed not only a statistically significant difference compared to the durvalumab combination but also clear clinical significance, demonstrating superior performance. Summit further stated that this bispecific antibody met the expected targets for the key secondary endpointsprogression-free survival and objective response rate. The company reported that it would present detailed trial analysis data at upcoming medical conferences and plans to submit the results for publication in a peer-reviewed journal.