Summit Therapeutics (SMMT) shares rose approximately 5% in Monday trading, a day after the company said its partner Akeso reported updated data, including overall survival, from phase III HARMONi-2 trial of investigational bispecific antibody ivonescimab, showing a 27% reduction in the risk of death compared with pembrolizumab.

The trial conducted in China evaluates ivonescimab monotherapy against pembrolizumab monotherapy in patients with locally advanced or metastatic non-small cell lung cancer, whose tumors have positive PD-L1 expression, the company said.

The HARMONi-2 data will be presented at the International Association for the Study of Lung Cancer's 2026 World Conference on Lung Cancer in Seoul, Korea on Tuesday, the company added.

Ivonescimab is approved and commercially available for indications in NSCLC in China but remains investigational and has not been approved in Summit's license territories, including the US and Europe, according to a statement.

Price: 18.42, Change: +0.87, Percent Change: +4.96