FDA Doesn't Approve Summit's China-Developed Lung Cancer Drug

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The FDA said Summit Therapeutics' lung cancer drug ivonescimab, developed in China, failed to show a statistically significant survival benefit. The post FDA Doesn't Approve…

Summit Therapeutics said Sunday that the Food and Drug Administration didn't approve a China-developed drug to treat lung cancer, citing insufficient evidence that it extended patients' lives. The news could hit shares of Summit Therapeutics and big investor AstraZeneca. The biotech had sought FDA approval for ivonescimab to treat a small subset of patients with non-small cell lung cancer with…

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