Summit partner selection for ASCO plenary signals strong OS, says Leerink

Leerink analyst Daina Graybosch notes that HARMONi-06 overall survival analysis from Akeso and partner Summit Therapeutics (SMMT) was selected as one of five plenary presentations at the ASCO annual meeting, which likely means that ivonescimab combined with chemotherapy drove a strong benefit in OS in first-line squamous non-small cell lung cancer. The positive investor reaction in Summit and BioNTech (BNTX) following the news is “warranted” given that OSis the “the most important and most uncertain outcome for the VEGF-A/PD-(L)1 bispecific class,” the analyst tells investors.