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Summit Therapeutics released a much-anticipated cut of data in North American and European lung cancer patients on Sunday, trumpeting a new analysis in which its drug ivonescimab, when added to chemotherapy, reduced the risk of death by a statistically significant margin compared to chemo alone.
A clean dataset — either positive or negative — would have given a clear answer for one of biotech’s highest-profile drugs, which is seeking to compete with Merck’s best-selling cancer treatment Keytruda. But there are caveats to the readout instead, particularly around data cut-off times, that are unlikely to clear up how regulators and investors interpret it, making it a classic biotech Rorschach test.