Summit Therapeutics Inc SMMT stock is trading lower on Friday.On Thursday, Summit Therapeutics’ partner Akeso Inc. received the U.S. Food and Drug Administration (FDA) approval for its PD-1 monoclonal antibody, penpulimab-kcqx, in combination with cisplatin or carboplatin and gemcitabine for the first-line treatment of adult recurrent or metastatic non-keratinizing nasopharyngeal carcinoma (NPC).FDA also approved penpulimab-kcqx as a single agent for adults with metastatic non-keratinizing NPC with disease ...

Nobody has more information about a company than its insiders, especially its executive management team. That's why when one of them buys more shares, it sometimes gives individual investors insights into the company's prospects. If those with the most knowledge think it's worth loading up on the stock, maybe other investors do the same -- or so the argument goes.That brings us to Summit Therapeutics (SMMT 8.47%), a clinical-stage biotech whose co-chief executive officers recently bought more shares of the ...

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. This article is intended to provide informational content and should not be viewed as an exhaustive a ...

Shares of lung cancer-focused biotech Summit Therapeutics (SMMT 10.72%) rallied 16.6% at its highs of the day before settling into a 10.4% gain on Thursday as of 3:54 p.m. EDT, even though the broader markets were down significantly on the day at that time, including the SPDR S&P Biotech ETF (XBI -4.37%), which was down 4.4%.The interesting news for Summit was that two insiders exercised warrants on Summit's stock yesterday, which most interpreted as being highly bullish. However, it could actually mean the ...

Summit Therapeutics (SMMT -2.25%) stock did better than a lot of other equities during an otherwise forgettable trading session on Wednesday. In contrast to other titles that fell notably, Summit more or less kept pace with the S&P 500 (^GSPC -1.12%), managing to dip by a relatively modest 2.25% in price. Some investors, at least, were cheered by an analyst's recommendation upgrade on the stock.The high potential of a licensed drugWell before market open, Citigroup pundit Yigal Nochomovitz changed his recom ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

On Friday, Cantor Fitzgerald initiated coverage on Summit Therapeutics Inc. SMMT, citing shares as 67% undervalued.The company’s lead candidate ivonescimab (SMT112) is an investigational, potentially first-in-class 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.Akeso Inc. engineered Ivonescimab, which is currently in multiple Phase 3 clinical trials. Over 2,300 patients have been treate ...

A very bullish analyst move was the news generally responsible for Summit Therapeutics' (SMMT -3.62%) healthy mid-week stock price pop. That upward lift was largely holding as of Friday before market open, as according to data compiled by S&P Global Market Intelligence Summit's share price had risen by almost 8% week to date at that point.The next cancer blockbuster drug?The person behind the news was Evercore ISI pundit Cory Kasimov, who on Wednesday launched coverage of Summit stock. He's quite firmly in ...

Core Viewpoint - Summit Therapeutics has experienced a significant stock price increase of 300% over the past year, but recent performance has stagnated, with flat returns since the start of 2025, raising concerns about its high market capitalization of over $13 billion while lacking consistent revenue generation [1][4]. Group 1: Stock Performance and Valuation - The excitement surrounding Summit's stock is largely driven by the potential of its cancer treatment candidate, ivonescimab, which has shown promising results in trials, outperforming Merck's Keytruda for non-small cell lung cancer [2][3]. - Despite the lack of drug approval, investors are pricing in the potential success of ivonescimab, although the company reported a net loss exceeding $221 million last year, which is impacting investor sentiment [4][8]. - Summit's stock has seen a decline of over 10% in the past month as investor enthusiasm has cooled, but positive trial results could lead to a significant increase in valuation [8]. Group 2: Collaboration and Future Prospects - Summit is collaborating with Pfizer on clinical trials to explore the use of ivonescimab in combination with Pfizer's antibody drug conjugates for treating solid tumors, with trials set to begin later this year [5][6]. - Pfizer's investment in next-generation cancer treatments, highlighted by its $43 billion acquisition of Seagen, indicates a strong belief in the potential of ivonescimab, which could open up further opportunities for the drug [7]. - The partnership with Pfizer not only expands the number of trials for ivonescimab but also alleviates some financial burden from Summit, which is crucial given its current high valuation concerns [6].

HONG KONG, Feb. 24, 2025 /PRNewswire/ -- Akeso, Inc. (9926.HK) ("Akeso" or the "Company") today announced that its partner on ivonescimab, Summit Therapeutics Inc. (NASDAQ: SMMT) has entered into a clinical trial collaboration with Pfizer Inc. (NYSE: PFE) to evaluate ivonescimab, a novel, investigational PD-1 / VEGF bispecific antibody, in combination with several of Pfizer's antibody drug conjugates (ADCs) across multiple solid tumor settings. "Rapidly developing novel mechanisms that go beyond what is cur ...