AstraZeneca invests $2 billion in Summit Therapeutics as uniQure shares tumble on disappointing Huntington’s data

Summit Therapeutics received a $2 billion all‑stock investment from AstraZeneca aimed at advancing its bispecific antibody ivonescimab through late‑stage trials. The funding is expected to support Phase 3 studies that target EGFR‑mutated lung cancer.

Summit’s stock jumped more than 16% in early trading, reflecting investor confidence in the partnership and the drug’s potential. The deal also underscores AstraZeneca’s strategy of bolstering its pipeline with innovative immuno‑oncology assets.

The company awaits an FDA decision on ivonescimab’s indication, with a ruling anticipated on or before mid‑November. A positive outcome could further validate the investment and accelerate market entry.

In contrast, uniQure’s shares fell nearly 40% after four‑year data from its Huntington’s disease gene‑therapy trial showed a reduced slowing of disease progression compared with earlier results, prompting a sharp market reaction.