Jefferies upgraded Instil Bio TIL, noting that 2024 was a banner year for the PD-(L)1xVEGF class.Summit Therapeutics’ SMMT data from the primary analysis of the Phase 3 HARMONi-2 trial of ivonescimab conducted in China demonstrated a statistically significant improvement in progression-free survival compared to monotherapy Merck & Co Inc’s MRK Keytruda (pembrolizumab).The trial update sparked industry buzz and drove Summit Therapeutic’ stock up around 150%, BioNTech SE BNTX up ~40%, and Instil Bio up ~500%. ...