Largest Real-World Study of Its Kind Highlights How RapidAI Aids in Identifying Challenging Aneurysms
RapidAI helped identify nearly 23% more aneurysms than were noted on the original radiology reports.
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'Detecting aneurysms is inherently challenging, especially in a busy practice when they're subtly positioned,' said Reza Dashti, MD, associate professor of neurosurgery and lead study investigator. 'This study shows how AI can augment clinical expertise and meaningfully advance diagnostic accuracy in real-world settings.'
Presented at AANS, with additional analyses available in the abstract, the study is the most extensive retrospective, single-center AI validation for aneurysm detection to date. In the study, RapidAI helped identify nearly 23% more aneurysms than were noted on the original radiology reports. Those additional detections had a median size of 3.9 mm, large enough to warrant intervention in many cases.
For those aneurysms ≥ 3mm in size, RapidAI demonstrated stand-out performance, reinforcing the value of its deep clinical AI in enhancing diagnostic accuracy and consistency while also enhancing clinical workflows. In this subset, the platform achieved a sensitivity of 92.5% and a specificity of 96.4%.
'Given the increasing demands on today's radiology teams, this study speaks to the potential of AI to offer meaningful support and capability enhancement to the real-world challenges of manual interpretation,' said David Stoffel, MD, chief business officer at RapidAI. 'This level of diagnostic aid for radiologists not only improves patient outcomes but also holds the potential to reduce downstream costs associated with missed or delayed aneurysm diagnoses.'
RapidAI's aneurysm platform combines 3D visualization, growth tracking, and automated measurement, providing clinicians with a comprehensive view and confidence in their decisions. With this study, RapidAI not only demonstrates the value of AI in real-world care but also helps raise the bar for how hospitals and health systems can support their teams with tools for smarter, faster diagnostics.
About RapidAI
RapidAI is the world leader in AI-driven medical imaging analysis and coordinated care. With the industry's most validated clinical AI platform, we empower care teams to rapidly, precisely, and confidently manage life-threatening conditions. Trusted by thousands of hospitals in 100+ countries, RapidAI delivers the deepest level of clinical decision support on the market to help accelerate the time to treatment and enhance patient outcomes. We go beyond the algorithm to drive care team collaboration and efficiencies that expand access to life-saving interventions. At RapidAI, we establish new standards for care teams and the patients they treat.
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Summit management uses these non-GAAP measures for internal budgeting and forecasting purposes and to evaluate Summit's financial performance. Summit management believes the presentation of these Non-GAAP measures is useful to investors for comparing prior periods and analyzing ongoing business trends and operating results. For further information regarding these Non-GAAP measures, please refer to the tables presenting reconciliations of our Non-GAAP results to our U.S. GAAP results and the 'Notes on our Non-GAAP Financial Information' that accompany this press release. About Ivonescimab Ivonescimab, known as SMT112 in Summit's license territories, North America, South America, Europe, the Middle East, Africa, and Japan, and as AK112 in China and Australia, is a novel, potential first-in-class investigational bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule. 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The intent of this design, together with a half-life of 6 to 7 days after the first dose (Zhong, et al, SITC, 2023), is to improve upon previously established efficacy thresholds, in addition to side effects and safety profiles associated with these targets. Ivonescimab was engineered by Akeso Inc. (HKEX Code: and is currently engaged in multiple Phase III clinical trials. Over 2,800 patients have been treated with ivonescimab in clinical studies globally. Summit began its clinical development of ivonescimab in non-small cell lung cancer (NSCLC), commencing enrollment in 2023 in two multiregional Phase III clinical trials, HARMONi and HARMONi-3. Additionally, in early 2025 the Company began enrolling clinical trial sites in the United States for HARMONi-7. 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In addition, Akeso has recently had positive read-outs in three single-region (China), randomized Phase III clinical trials for ivonescimab in NSCLC: HARMONi-A, HARMONi-2, and HARMONi-6. HARMONi-A was a Phase III clinical trial which evaluated ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with an EGFR TKI. HARMONi-2 is a Phase III clinical trial evaluating monotherapy ivonescimab against monotherapy pembrolizumab in patients with locally advanced or metastatic NSCLC whose tumors have positive PD-L1 expression. HARMONi-6 is a Phase III clinical trial evaluating ivonescimab in combination with platinum-based chemotherapy compared with tislelizumab, an anti-PD-1 antibody, in combination with platinum-based chemotherapy in patients with locally advanced or metastatic squamous NSCLC, irrespective of PD-L1 expression. Ivonescimab is an investigational therapy that is not approved by any regulatory authority in Summit's license territories, including the United States and Europe. Ivonescimab was initially approved for marketing authorization in China in May 2024. Ivonescimab was granted Fast Track designation by the US Food & Drug Administration (FDA) for the HARMONi clinical trial setting. About Summit Therapeutics Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs. Summit was founded in 2003 and our shares are listed on the Nasdaq Global Market (symbol "SMMT"). We are headquartered in Miami, Florida, and we have additional offices in Menlo Park, California, and Oxford, UK. For more information, please visit and follow us on X @SMMT_TX. Summit Forward-looking Statements Any statements in this press release about the Company's future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of the Company's product candidates, entry into and actions related to the Company's partnership with Akeso Inc., the Company's anticipated spending and cash runway, the therapeutic potential of the Company's product candidates, the potential commercialization of the Company's product candidates, the timing of initiation, completion and availability of data from clinical trials, the potential submission of applications for marketing approvals, potential acquisitions, statements about the previously disclosed At-The-Market equity offering program ('ATM Program'), the expected proceeds and uses thereof, the Company's estimates regarding stock-based compensation, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company's ability to sell shares of our common stock under the ATM Program, the conditions affecting the capital markets, general economic, industry, or political conditions, the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company's pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company's foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the "Risk Factors" and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' sections of filings that the Company makes with the Securities and Exchange Commission. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company's views only as of the date of this release and should not be relied upon as representing the Company's views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release. Summit Therapeutics and the Summit Therapeutics logo are trademarks of Summit Therapeutics Inc. Copyright 2025, Summit Therapeutics Inc. All Rights Reserved Summit Therapeutics Inc. GAAP Condensed Consolidated Balance Sheet Information (in millions) Unaudited December 31, 2024 Cash and cash equivalents and short-term investments $ 297.9 $ 412.3 Total assets $ 324.0 $ 435.6 Total liabilities $ 64.6 $ 46.8 Total stockholders' equity $ 259.4 $ 388.7 Expand Summit Therapeutics Inc. GAAP Condensed Consolidated Statement of Cash Flows Information (in millions) Unaudited Six Months Ended June 30, 2025 2024 Net cash used in operating activities $ (127.9 ) $ (63.1 ) Net cash provided by (used in) investing activities 310.9 (180.2 ) Net cash provided by financing activities 9.9 200.7 Effect of exchange rates on cash and cash equivalents 0.1 — Increase (decrease) in cash, cash equivalents and restricted cash $ 193.0 $ (42.6 ) Expand Summit Therapeutics Inc. 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Schedule Reconciling Selected Non-GAAP Financial Measures (in millions) Unaudited June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Reconciliation of GAAP to Non-GAAP Operating Expenses GAAP Operating expenses $ 568.4 $ 66.8 $ 65.6 $ 58.4 $ 59.6 Stock-based compensation (Note 1) (478.8 ) (11.1 ) (11.0 ) (19.4 ) (11.1 ) Non-GAAP Operating Expense (Note 2) $ 89.6 $ 55.7 $ 54.6 $ 39.0 $ 48.5 Reconciliation of GAAP Net Loss to Non-GAAP Net Loss GAAP Net Loss $ (565.7 ) $ (62.9 ) $ (61.2 ) $ (56.3 ) $ (60.4 ) Stock-based compensation (Note 1) 478.8 11.1 11.0 19.4 11.1 Non-GAAP Net Loss (Note 2) $ (86.9 ) $ (51.8 ) $ (50.2 ) $ (36.9 ) $ (49.3 ) Expand Summit Therapeutics Inc. Notes on our Non-GAAP Financial Information Non-GAAP financial measures adjust GAAP financial measures for the items listed below. These Non-GAAP measures should be viewed in addition to, and not as a substitute for Summit's reported GAAP results, and may be different from Non-GAAP measures used by other companies. In addition, these Non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Summit management uses these non-GAAP measures for internal budgeting and forecasting purposes and to evaluate Summit's financial performance. Summit management believes the presentation of these Non-GAAP measures is useful to investors for comparing prior periods and analyzing ongoing business trends and operating results. Each of non-GAAP Research and Development Expense, non-GAAP General and Administrative Expenses, non-GAAP Operating Expenses, Non-GAAP Net Loss and Non-GAAP EPS differ from GAAP in that such measures exclude the non-cash charges and costs associated with stock-based compensation. Note 1: Stock-based compensation is a non-cash charge and costs calculated for this expense can vary year-over-year depending on the stock price of awards on the date of grant as well as the timing of compensation award arrangements. Note 2: Beginning in the fourth quarter of 2024, the Company's non-GAAP financial measures will no longer exclude acquired in-process research and development expenses ('IPR&D'). Non-GAAP financial measures for the three months ended June 30, 2024 previously excluded $15.0 million of IPR&D which represented an upfront payment made to Akeso under an amendment to the Collaboration and License Agreement. Prior period amounts have been revised to conform to the current period presentation. Appendix: Glossary of Critical Terms Contained Herein Affinity – Affinity is the strength of binding of a molecule, such as a protein or antibody, to another molecule, such as a ligand. Avidity – Avidity is the accumulated strength of multiple binding interactions. Angiogenesis – Angiogenesis is the development, formation, and maintenance of blood vessel structures. Without sufficient blood flow, tissue may experience hypoxia (insufficient oxygen) or lack of nutrition, which may cause cell death. 1 Cooperative binding – Cooperative binding occurs when the number of binding sites on the molecule that can be occupied by a specific ligand (e.g., protein) is impacted by the ligand's concentration. For example, this can be due to an affinity for the ligand that depends on the amount of ligand bound or the binding strength of the molecule to one ligand based on the concentration of another ligand, increasing the chance of another ligand binding to the compound. 2 Immunotherapy – Immunotherapy is a type of treatment, including cancer treatments, that help a person's immune system fight cancer. Examples include anti-PD-1 therapies. 3 Intracranial - Within the cranium or skull. PD-1 – Programmed cell Death protein 1 is a protein on the surface of T cells and other cells. PD-1 plays a key role in reducing the regulation of ineffective or harmful immune responses and maintaining immune tolerance. However, with respect to cancer tumor cells, PD-1 can act as a stopping mechanism (a brake or checkpoint) by binding to PD-L1 ligands that exist on tumor cells and preventing the T cells from targeting cancerous tumor cells. 4 PD-L1 – Programmed cell Death Ligand 1 is expressed by cancerous tumor cells as an adaptive immune mechanism to escape anti-tumor responses, thus believed to suppress the immune system's response to the presence of cancer cells. 5 PD-L1 TPS – PD-L1 Tumor Proportion Score represents the percentage of tumor cells that express PD-L1 proteins. PFS – Progression-Free Survival. RANO – Response Assessment in Neuro-Oncology, the standard for assessing the response of a brain or spinal cord tumor to therapy. SQ-NSCLC – Non-small cell lung cancer tumors of squamous histology. T Cells – T cells are a type of white blood cell that is a component of the immune system that, in general, fights against infection and harmful cells like tumor cells. 6 Tetravalent – A tetravalent molecule has four binding sites or regions. Tumor Microenvironment – The tumor microenvironment is the ecosystem that surrounds a tumor inside the body. It includes immune cells, the extracellular matrix, blood vessels and other cells, like fibroblasts. A tumor and its microenvironment constantly interact and influence each other, either positively or negatively. 7 VEGF – Vascular Endothelial Growth Factor is a signaling protein that promotes angiogenesis. 8 __________________ 1 Shibuya M. Vascular Endothelial Growth Factor (VEGF) and Its Receptor (VEGFR) Signaling in Angiogenesis: A Crucial Target for Anti- and Pro-Angiogenic Therapies. Genes Cancer. 2011 Dec;2(12):1097-105 2 Stefan MI, Le Novère N. Cooperative binding. PLoS Comput Biol. 2013;9(6) 3 US National Cancer Institute, a part of the National Institute of Health (NIH). Accessed April 2024. 4 Han Y, et al. PD-1/PD-L1 Pathway: Current Researches in Cancer. Am J Cancer Res. 2020 Mar 1;10(3):727-742. 5 Han Y, et al. PD-1/PD-L1 Pathway: Current Researches in Cancer. Am J Cancer Res. 2020 Mar 1;10(3):727-742. 6 Cleveland Clinic. Accessed April 2024. 7 MD Anderson Cancer Center. Accessed April 2024. 8 Shibuya M. Vascular Endothelial Growth Factor (VEGF) and Its Receptor (VEGFR) Signaling in Angiogenesis: A Crucial Target for Anti- and Pro-Angiogenic Therapies. Genes Cancer. 2011 Dec;2(12):1097-105. Expand
Business Wire
7 hours ago
- Business Wire
VIQ Solutions Announces Executive Leadership and Board Changes
MISSISSAUGA, Ontario--(BUSINESS WIRE)--VIQ Solutions Inc. ('VIQ', 'VIQ Solutions' or the 'Company') (TSX: VQS), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announced that Sebastien Pare has resigned from his role as Chief Executive Officer of the Company and from its Board of Directors (the 'Board') effectively immediately. In connection with Mr. Pare's departure, Larry Taylor has been appointed as Interim Chief Executive Officer effective immediately. Mr. Taylor will work closely with the executive team and the Board to accelerate VIQ's delivery of profitability, growth and free cash flow. Elizabeth Pennell has also been appointed Global Head of Operations. Ms. Pennell has over 30 years of industry experience having joined VIQ in January 2020 with the acquisition of ASC Media. Recently, Elizabeth has led the successful integration of our USA and UK operations which are our highest performing business units. In addition, Elizabeth leads VIQ's Media business unit serving global clients such as Bloomberg, Fox News, CNN and many others with real time digital solutions. Elizabeth's new role will include leadership of VIQ's Australian business unit to accelerate customer technology adoption and drive profitability to levels achieved in USA and UK. Elizabeth will spend a significant amount of her time in Australia and is expected to work closely with VIQ's Australian customers and teams to drive immediate results. Larry Taylor stated, 'We thank Sebastien and wish him well in his new endeavors. The Board and I look forward to working with Elizabeth and our management team as we accelerate VIQ's progress on growth and profitability.' Board Director Changes Brad Wells has been appointed Board Chair and Lead Independent Director effective August 11, 2025. Mr. Wells is the largest shareholder of VIQ. Mr. Wells has been President and CEO of Momentum Group Ltd. since he founded it in 2004. Mr. Wells runs operating companies in the USA, Canada, Europe and Central America. Previously, Mr. Wells was Founder and CEO of Sym-Tech Dealer Services until the company was successfully sold to private equity in 2019 after a successful digital transformation that led to higher productivity and automation. Howard Wetston, C.M, KC. LL.B., ICD.D, has been appointed to the Board effective August 11, 2025. Mr. Wetston is a distinguished Canadian public servant, lawyer and former Senator whose career spans all three branches of parliamentary democracy – executive, judicial and legislative. Mr. Wetston is a former Chair of the Ontario Securities Commission, former Chair of the Ontario Energy Board, former Commissioner of Competition and former Federal Court Judge. Mr. Wetston was named to the Order of Canada and received the Queen Elizabeth II Diamond Jubilee Medal as well as honorary doctorates from Dalhousie and Cape Breton University. Joe Quarin and Larry Taylor will remain active members of the Board. Brad Wells stated, 'I am energized to take on the role of Chair at this pivotal time. VIQ must operate with greater urgency, speed, and discipline. Our focus is clear: achieve profitability, strengthen liquidity, and deliver best-in-class AI-powered solutions to our global customer base. Just as critical is empowering our people and strengthening a culture of aligned execution, accountability and agility. We will pursue growth through focused innovation and targeted acquisitions where they make strategic sense. I look forward to continuing to work with the Board and management, as we lead VIQ into its next phase. I am delighted to welcome Howard who bring s tremendous insight, leadership, and energy to the Board and the business.' About VIQ Solutions VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost. Forward-looking Statements Certain statements included in this press release constitute forward-looking statements or forward-looking information (collectively, 'forward-looking statements') under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking statements (typically contain statements with words such as 'anticipate', 'believe', 'expect', 'plan', 'intend', 'estimate', 'propose', 'project' or similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions 'may' or 'will' occur). These statements are only predictions. Forward-looking statements in this press release include but are not limited to statements with respect to the Company's strategy related to growth and profitability and the potential outcome thereof, and the Company's current and future growth prospects. Forward-looking statements are based on several factors and assumptions which have been used to develop such statements, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the factors described in greater detail in the 'Risk Factors' section of the Company's annual information form dated March 31, 2025 and in the Company's other materials filed on SEDAR+ at These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Such estimates and assumptions may prove to be incorrect or overstated. The forward-looking statements contained in this press release are made as of the date of this press release and the Company expressly disclaims any obligations to update or alter such statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
