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Akeso's Lung Cancer Drug Approved, Stocks Plummet 37%

4/26/2025

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Summary

Story summary

Akeso's ivonescimab has gained Chinese approval for treating PD-L1-positive non-small cell lung cancer, boasting a remarkable 49% reduction in tumor progression over Keytruda. However, an interim analysis revealed a disappointing 22% drop in death risk, leading to a nearly 37% plunge in Summit Therapeutics' stock as investors reacted to the high statistical significance threshold.

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Story summary

Akeso's ivonescimab has gained Chinese approval for treating PD-L1-positive non-small cell lung cancer, boasting a remarkable 49% reduction in tumor progression over Keytruda. However, an interim analysis revealed a disappointing 22% drop in death risk, leading to a nearly 37% plunge in Summit Therapeutics' stock as investors reacted to the high statistical significance threshold.