Summit’s Global Lung Cancer Trials Gain Credibility After Akeso’s Phase 3 Data, Says Guggenheim

 Akeso reported positive late-stage data for Ivonescimab, a drug that Summit Therapeutics holds the rights to develop and sell outside China.

Guggenheim reiterated a ‘Buy’ rating and a $38 price target on Summit.
The Phase 3 trial compared Ivonescimab plus chemotherapy with AstraZeneca’s Durvalumab plus chemotherapy as an initial treatment.


Ivonescimab showed statistically significant and clinically meaningful improvement in overall survival.Summit Therapeutics (SMMT) remained on investors’ radar on Wednesday after Guggenheim said the positive late-stage biliary tract cancer data from China-based Akeso strengthened confidence in Summit’s upcoming global Phase 3 lung cancer trials.

Guggenheim reiterated a ‘Buy’ rating and a $38 price target

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