Summit Therapeutics

Summit Therapeutics presented ivonescimab data at ESMO 2024, showing efficacy in TNBC, HNSCC, and MSS CRC, with plans to expand clinical development beyond metastatic NSCLC.

Immunotherapies like Keytruda celebrate 10 years, sparking debate on patient cure declarations. The psychedelics industry features key figures like Robin Carhart-Harris. Pfizer critiques Medicare's digital mental health app proposal. Senate aide Shawn Bishop, key in drug pricing policy, is departing. FDA drafts guidance for international cancer trials, emphasizing data applicability to U.S. patients.

At ESMO's annual meeting, Pfizer's ponsegromab showed promise in treating cancer cachexia, helping patients regain weight and improve symptoms. Johnson & Johnson's TAR-200, a chemotherapy-releasing device, demonstrated efficacy in bladder cancer, with 42% of patients showing no cancer evidence. BioNTech and Instil Bio presented early data on drugs targeting PD1 and VEGF, similar to Summit Therapeutics' successful trial. Long-term studies revealed Keytruda's superior survival rates over Yervoy in melanoma patients. Scorpion Therapeutics' STX-478 showed potential as a PI3Ka inhibitor with manageable side effects.

Ivonescimab shows promising anti-tumor activity and safety in CRC, TNBC, and HNSCC, with encouraging Phase II data supporting its clinical development expansion beyond metastatic NSCLC, as presented at ESMO 2024.

Merck's stock has risen 72% in 5 years, driven by Keytruda's success, but faces uncertainty as Keytruda's patent expires in 2028. Merck forecasts 2024 revenue growth of 5-7% and seeks new blockbusters, while competition from biosimilars and alternative treatments poses risks.

Summit Therapeutics secured $235 million in a private stock sale, selling over 10 million shares at $22.70 each, equal to the closing price. Major internal figures and biotech investors participated, indicating strong confidence. Funds will advance clinical trials for ivonescimab, an investigational cancer treatment.

Roivant acquires mosliciguat from Bayer for pulmonary hypertension; Viridian's thyroid eye disease treatment succeeds in Phase 3; Verily alums launch Highlander Health for clinical research optimization; House passes BIOSECURE Act restricting business with Chinese biotechs; Candid Therapeutics raises $370M for bispecific antibody therapies; Merck's Keytruda faces potential competition from Akeso's ivonescimab; Penn's gene therapy ATSN-101 shows promise for rare blindness.

Summit Therapeutics' experimental drug outperformed Merck's Keytruda in non-small cell lung cancer, led by iconoclastic figure Bob Duggan, a billionaire with no drug industry experience.

Summit Therapeutics' ivonescimab reduced lung cancer progression or death risk by 49% compared to Keytruda in Phase III HARMONi-2 study, extending progression-free survival to 11 months vs. 6 months for Keytruda. The study involved 398 PD-L1-positive, advanced NSCLC patients in China, with ivonescimab showing higher severe side effects.