Ivonescimab Hits OS Endpoint in Biliary Tract Cancer Trial
SMMT is trading near its 52-week low of $12.07 (9.8% above the low).
Summary
Akeso's Phase III HARMONi-GI1 trial of ivonescimab plus chemotherapy met its primary endpoint of overall survival in first-line advanced biliary tract cancer, beating durvalumab plus chemotherapy. The study also hit secondary endpoints of progression-free survival and objective response rate. This is the fifth positive Phase III readout for ivonescimab, but the first in biliary tract cancer, expanding the drug's potential beyond NSCLC. Summit holds rights to ivonescimab in the US and Europe, where it remains investigational with an FDA decision on the NSCLC BLA due November 14, 2026. The result strengthens the case for ivonescimab's broader efficacy, though the trial was conducted solely in China by Akeso, and detailed data are not yet available.
At the time of this announcement, SMMT was trading at $13.25 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $10.7B. 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: BusinessWire.