Recent developments are forcing comparisons between these two drugmakers. Many pharmaceutical and biotech companies have one or a few main areas of expertise in which they develop and market their most important medicines. For Merck (MRK -1.70%), one of the most prominent companies in the business, that area is oncology. Merck is best known for its cancer drug Keytruda, which has been the best-selling medicine in the world since last year. It has several other cancer drugs in its portfolio although their sa ...

Its alliance with a successful foreign biotech could be decisive for the stock. Summit Therapeutics' (SMMT -8.44%) shares are up by more than 1,060% in the last 12 months, thanks to the market's exuberant reaction to the latest sets of clinical trial data produced by the company and its main collaborator. Now the question is whether Summit can continue wowing investors as its candidates approach their shot at commercialization. But you might look at its pipeline and conclude that the biotech is a one-trick ...

One of them is performing much better than the other this year. The market could potentially see the emergence of new biotech industry leaders. Since the year started, Viking Therapeutics (VKTX -1.11%) and Summit Therapeutics (SMMT -8.44%), two clinical-stage drugmakers, have seen their shares skyrocket. The reason? Both companies announced promising clinical progress for their leading pipeline candidates. While there's still some way to go before launching their products, it's hard to argue with the result ...

There's a lot of hope for ivonescimab, but are investors being a bit too bullish? If a company shows a lot of potential, investors are often willing to pay a premium and take on some risk in exchange for owning a piece of the business. And in some cases, those valuations can appear extreme, especially when you consider the risk that investors are taking on. One biotech company which may be the ultimate example of that right now is Summit Therapeutics (SMMT -2.02%). Its market capitalization eclipsed $23 bil ...

Find out why positive results from a Summit Therapeutics study keep pushing up BioNTech and Instil Bio stock. September has been an exciting time for investors with their fingers on the pulse of cancer drug development. In a nutshell, it looks like the world's top-selling cancer therapy could have a serious competitor. Sales of Keytruda from Merck reached $25 billion last year thanks to its position as a standard first line of treatment for most patients newly diagnosed with the most common form of lung can ...

Better-than-expected trial data means Summit's bispecific antibody could replace the blockbuster Keytruda as a standard of care for certain lung cancers. Shares of Summit Therapeutics (SMMT 8.32%) rocketed 123.4% higher this week through Thursday trading, according to data from S&P Global Market Intelligence. A biotech stock surging that much usually means a new blockbuster drug candidate either posted good trial data or was approved for use. That's exactly what happened with Summit's lung cancer antibody I ...

This high-flying biotech stock is moving even higher -- and for good reason. Shares of Summit Therapeutics (SMMT 22.16%) were soaring 22.5% higher as of 11:18 a.m. ET on Thursday. The gain came after the clinical-stage biopharmaceutical company revealed that it entered into agreements with several biotech institutional and individual accredited investors for the sale of over 10.3 million shares for roughly $235 million in a private placement. Investors were undoubtedly especially glad to see key insiders ag ...

Core Insights - Summit Therapeutics Inc. has experienced a significant stock price increase of over 106% this month and a staggering 769% year-to-date, driven by positive clinical trial results for its cancer therapy Ivonescimab [1][2] Company Overview - Summit Therapeutics is a biopharmaceutical company focused on developing innovative therapies in the U.S. and U.K. Its lead drug candidate, Ivonescimab, is a bispecific antibody that combines PD-1 blockade with anti-angiogenesis [3] Clinical Trial Results - The Phase 3 Harmoni-2 trial results indicated that Ivonescimab reduced the risk of disease progression in newly diagnosed lung cancer patients by 49% compared to Merck's Keytruda, the current standard of care [4] - Keytruda generates approximately $25 billion in annual revenue and has been the leading treatment for first-line lung cancer patients [5] Analyst Reactions - Following the trial's success, analysts have raised their price targets for Summit Therapeutics, with Citigroup increasing its target from $13 to $19, Stifel Nicolaus from $14 to $25, and HC Wainwright setting a target of $30 [6] Stock Performance and Forecast - The stock is currently trading at $22.70, with a 12-month price forecast of $24.67, indicating an 8.66% upside potential [9] - The stock has shown strong momentum, being up over 1300% from its 52-week low, but is currently considered stretched with an RSI over 80, suggesting a potential pullback [8][9] Future Studies - Summit has initiated a global Phase 3 study, Harmoni-3, which will compare Ivonescimab plus chemotherapy to Keytruda plus chemotherapy, but the outcome remains uncertain [11]

The clinical-stage drugmaker's cancer therapy candidate outperformed Keytruda, the world's top-selling cancer drug. Shares of Summit Therapeutics (SMMT 55.99%) recently jumped in response to positive clinical trial results for its experimental cancer therapy. Results of the phase 3 Harmoni-2 trial suggest newly diagnosed lung cancer patients are better off with its cancer drug candidate, ivonescimab, than the current standard of care, Keytruda from Merck (MRK -2.06%). With global sales that rose 19% last ye ...

The company's new lung cancer treatment could unseat Merck's Keytruda in the $50 billion-plus lung cancer treatment market. Shares of Summit Therapeutics (SMMT 57.62%) rocketed as high as 75.2% Monday, before settling into a 57.5% gain as of 1:27 PM EDT. The biotech firm released the results of a Phase III study on Sunday at the 2024 World Conference on Lung Cancer in San Diego. The data showed its lung cancer treatment Ivonescimab outperformed Pembrolizumab, also known as Keytruda, the current standard of ...