Summit Therapeutics Inc. (NASDAQ:SMMT) presented updated Phase II data for ivonescimab at the 42nd Annual J.P. Morgan Healthcare Conference. The data showed promising results in patients with non-small cell lung cancer (NSCLC), including a 24-month overall survival rate of 64.8% in first-line squamous NSCLC patients and a median overall survival of 22.5 months in second or third line EGFRm NSCLC patients. Summit is advancing ivonescimab into two global Phase III clinical trials and expects catalyst events in Q2 2024 for two randomized Phase III trials conducted by Akeso in China. Summit reported a preliminary unaudited balance of cash and investments of no less than $186 million as of December 31, 2023.