Summit Therapeutics Stock Rises 8%

(RTTNews) - Summit Therapeutics Inc. (SMMT) shares rose $1.04, or 7.78 percent, to $14.40 on Wednesday, possibly following the previous day's positive Phase III trial results announced by its partner Akeso for ivonescimab in advanced biliary tract cancer.

The stock opened at $14.75 and traded between $14.11 and $15.10 on the Nasdaq. It has traded in a 52-week range of $12.07 to $29.23. Trading volume reached 7.52 million shares, compared with an average daily volume of 5.38 million shares.

Akeso reported that, at a pre-specified interim analysis, the ivonescimab-based treatment combined with chemotherapy achieved statistically significant and clinically meaningful superiority in overall survival compared with durvalumab plus chemotherapy in the HARMONi-GI1 study. The trial also met key secondary endpoints for progression-free survival and objective response rate.