Updated HARMONi Analysis: Summit Therapeutics Reports Improved Overall Survival, with Western Patients Now Matching Asian Benefit
SMMT sits 15% above its 52-week low of $12.55.
Summary
Updated overall survival data from the Phase III HARMONi trial show a hazard ratio of 0.76 for ivonescimab plus chemotherapy, with western patients now demonstrating the same benefit as Asian patients after longer follow-up. The results have been submitted to the FDA ahead of the November 14, 2026 PDUFA date.
Key Events · Product Development and Regulatory · SMMT
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Updated OS Analysis Shows Improved Hazard Ratio
With the June 2026 data cutoff, the HARMONi trial shows a hazard ratio of 0.76 for overall survival in the full intention-to-treat population, improved from 0.79 in the primary analysis and 0.78 in September 2025.
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Western Patients Now Match Asian Benefit
After median follow-up extended to 23.2 months (from 9.2 months in the primary analysis), the western subgroup hazard ratio improved to 0.76, consistent with the Asian subgroup and the full population.
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Data Submitted to FDA Ahead of PDUFA
The updated results have been made available to the FDA; the PDUFA goal date for the ivonescimab BLA is November 14, 2026.
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Safety Profile Remains Consistent
Ivonescimab continued to show an acceptable and manageable safety profile with no new safety signals in this analysis.
Analysis · SMMT · Life Sciences
The latest analysis reveals the overall survival hazard ratio improving to 0.76 for both the full population and the western subgroup, up from 0.79 in the primary analysis and 0.78 in September 2025. Critically, western patients—who had only 9.2 months median follow-up in the primary analysis—now show the same magnitude of benefit as Asian patients after 23.2 months of follow-up. This consistency across geographies strengthens the case for FDA approval, with the PDUFA date set for November 14, 2026. The data have been shared with the FDA, and more detailed results will be presented at an upcoming medical conference.
At the time of this filing, SMMT was trading at $14.48 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $11.4B. The 52-week trading range was $12.55 to $30.98. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.