Movement Alert｜Summit Therapeutics PLC Intraday Rise 5.23% in Regular Trading, Phase 2 Kidney Cancer Study of Ivonescimab Initiated

Market Focus10-19

On October 19, Summit Therapeutics PLC rose 5.23% in Regular Trading, trading at $15.41 per share, with turnover of $14.84 million.

The move coincided with the company’s announcement that it initiated a phase 2 study of ivonescimab in previously untreated advanced clear cell renal cell carcinoma with partner Akeso.

The study has opened clinical trial sites in both the United States and China and is designed to evaluate several ivonescimab-based approaches, including combination therapies. Summit Therapeutics PLC said the trial is targeting enrollment of about 100 patients. The update adds another clinical expansion step for the company’s lead oncology asset following its recently completed $2 billion strategic equity investment from AstraZeneca, which strengthened funding visibility and support for broader ivonescimab development.

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