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Summit Therapeutics’ stock price $SMMT tumbled nearly 20% after the closing bell Thursday afternoon, following an apparent statistical miss in part of a Phase 3 trial for its cancer drug ivonescimab.
In patients with a certain form of lung cancer, Summit said its independent data monitoring committee recommended the study “continue as planned,” rather than stop it early for efficacy. The disclosure triggered the selloff as Summit reported its first-quarter earnings Thursday afternoon.
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