** Shares of Summit Therapeutics SMMT.O rise 3% to $15.12

** Co says updated overall survival data from its late-stage trial showed its experimental drug ivonescimab, when combined with chemotherapy, continued to improve survival in patients with a type of non-small cell lung cancer

** The longer follow-up suggests the survival benefit previously seen in Asian patients is now being replicated in patients from North America and Europe - SMMT

** Says in the latest analysis, based on a June 2026 data cutoff, the overall survival hazard ratio was 0.76 in both the overall study population and the Western patient subgroup

** TD Cowen says the results strengthen ivonescimab's approval prospects and suggest the consistency seen between Asian and Western patients could extend to ongoing first-line non-small cell lung cancer studies and potentially other cancer indications

** As of last close, SMMT down 16.4% YTD