Ivonescimab Combo Cuts Lung Cancer Progression Risk by 48% in Phase 3
SMMT is trading near its 52-week low of $12.07 (10% above the low).
Summary
The Lancet Oncology published primary analysis from the global Phase 3 HARMONi trial showing ivonescimab plus chemotherapy extended median progression-free survival to 6.8 months versus 4.4 months for placebo (HR 0.52) in EGFR-mutated NSCLC after TKI failure. This is the first peer-reviewed publication of the primary PFS data, adding credibility. The updated OS analysis shows a positive trend with HR 0.76 in Western patients, though not statistically significant. FDA assigned a November 14, 2026 action date for the BLA, and full data will be presented at the World Conference on Lung Cancer on September 15. This follows the July 22 update on OS consistency and the August NMPA approval in China. The stock rose 4% on the news.
At the time of this announcement, SMMT was trading at $13.31 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $10.6B. The 52-week trading range was $12.07 to $30.05. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.