BioNTech SE's Stock Drops Amidst Market Reaction to Akeso and Summit Therapeutics News

Akeso and Summit Therapeutics' stocks declined after releasing patient survival data for ivonescimab, a competitor to Merck's Keytruda. While the data showed a 22% reduced risk of death, it was not statistically significant. BioNTech's stock also dropped by 17% likely due to the market reaction to Summit's update. Based on analyst estimates, BioNTech's average target price is $136.21 with a high estimate of $169.82 and a low estimate of $109.24, implying an upside of 39.06% from the current price.

Akeso and Summit Therapeutics' stocks declined following the release of patient survival data for ivonescimab, a competitor to Merck's Keytruda. The data showed a 22% reduced risk of death, although it was not statistically significant. This news was likely a factor in BioNTech's stock drop by 17% [2].

Ivonescimab's Impact on Merck

The Phase III HARMONi-6 trial, conducted by Summit Therapeutics and Akeso, demonstrated that treatment with ivonescimab and chemotherapy led to a statistically significant and clinically meaningful improvement in progression-free survival (PFS) compared to Tevimbra plus chemotherapy [1]. This suggests that ivonescimab's mechanism of action, targeting both PD-1 and VEGF pathways, could challenge Keytruda's supremacy in the market.

BioNTech's Stock Reaction

BioNTech's stock price also experienced a significant drop, likely due to market reaction to Summit's update. Analysts have been cautious about ivonescimab's potential, noting that the data from the HARMONi-2 trial, conducted entirely in China, may not be generalizable beyond that population [1]. Despite this, BioNTech remains optimistic about its diversified oncology pipeline and multiple active clinical trials.

Analyst Estimates for BioNTech

Based on recent analyst estimates, BioNTech's average target price is $136.21, with a high estimate of $169.82 and a low estimate of $109.24. This implies an upside of 39.06% from the current price, indicating potential growth opportunities [2].

Conclusion

The release of ivonescimab's data has put pressure on Merck's Keytruda, while also influencing the market perception of BioNTech's stock. Investors should closely monitor the ongoing clinical trials and future data presentations, such as those at the AACR Annual Meeting, to gauge the true potential of these innovative cancer therapies.

References:

[1] https://www.biospace.com/drug-development/summits-bispecific-beats-yet-another-cancer-med-pressuring-keytrudas-supremacy
[2] https://www.nasdaq.com/articles/biontech-present-pioneering-oncology-data-aacr-annual-meeting-2025