Summit Therapeutics (SMMT) shares surged Friday morning, a day after after the biopharmaceutical company said its developmental lung cancer drug was granted Fast Track designation by the 澳洲幸运5官方开奖结果体彩网:Food and Drug Administration (FDA).

Summit said it has completed the enrollment process for a 澳洲幸运5官方开奖结果体彩网:Phase 3 trial of ivonescimab, which will include patients across North America, Europe, and China. It said it looks forward to completing its first global study of the drug, which has been used to treat more than 1,800 patients in previous trials.

"As our belief in the potential for ivonescimab to make a meaningful, positive difference continues to grow, we are pleased that the FDA has granted Fast Track designation for ivonescimab," Summit 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Robert Duggan said.

Summit Stock Soared Last Mont🀅h on Previous Trial Result🌟s

Positive results in a previous Chinese trial for the drug 澳洲幸运5官方开奖结果体彩网:sent Summit's stock skyrocketing last mo🔯nth, more than doubling in value to a record close of $31.93 over five trading sessions.

Summit shares have since retreated, but were up📖 13% to $21.05 soon a𝔉fter markets opened Friday.