05:03 AM EDT, 10/04/2024 (MT Newswires) -- (Updates with the stock move and FDA fast track in the headline and the last two paragraphs.)

Summit Therapeutics ( SMMT ) said late Thursday that it completed enrollment in its late-stage HARMONi clinical trial from North America, Europe, and China, with topline data expected in mid-2025.

The study is evaluating ivonescimab plus platinum-doublet chemotherapy against placebo plus platinum-doublet chemotherapy to treat adult patients with locally advanced or metastatic non-small cell lung cancer with epidermal growth factor receptor mutation and who have experienced disease progression following EGFR-tyrosine kinase inhibitor therapy, the oncology company said.

In addition, the company said the US Food and Drug Administration granted a fast-track designation for the proposed use of ivonescimab in combination with platinum-based chemotherapy.

Shares of the company surged more than 15% in premarket activity Friday.

Price: 21.51, Change: +2.90, Percent Change: +15.58