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Summit Therapeutics stock jumps as ivonescimab extends survival in China

Shares of Summit Therapeutics rose more than 12% Thursday morning after the company said ivonescimab is extending survival in a Chinese lung cancer study, lifting the stock to $16.46.

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Shares of Summit Therapeutics were up more than 12% Thursday morning after the company said its lung cancer drug ivonescimab was extending survival in a Chinese study. The stock rose to $16.46 after the Miami-based company made the announcement.