Summit Therapeutics fell about 22% after saying its late-stage ivonescimab trial will continue as planned following an uneventful interim analysis. The update removed some near-term event risk but did not provide a positive efficacy catalyst, leaving the market disappointed. The drug was developed with Akeso, and the move is likely to pressure SMMT shares in the near term.
Summit Therapeutics fell about 22% after saying its late-stage ivonescimab trial will continue as planned following an uneventful interim analysis. The update removed some near-term event risk but did not provide a positive efficacy catalyst, leaving the market disappointed. The drug was developed with Akeso, and the move is likely to pressure SMMT shares in the near term.
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moderately negative
Sentiment Score
-0.35
Ticker Sentiment
