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Shares of Summit Therapeutics (SMMT -28.35%) have plunged 31% as of 1:23 p.m. ET Friday, following the release of some trial data this morning.Summit has been a tremendous winner over the past year, as its bispecific antibody lung cancer drug ivonescimab outperformed prior standards of care in phase 3 trials performed in China by Summit's partner Akeso (AKES.F -4.96%).While today's results weren't all bad by any means, apparently investors had hoped for more conclusive information about survival rates. With ...

Summit Therapeutics Inc. SMMT released topline results on Friday from the Phase 3 HARMONi trial of ivonescimab plus platinum-doublet chemotherapy compared to placebo plus platinum-doublet chemotherapy for epidermal growth factor receptor (EGFR)-mutated, locally advanced or metastatic non-squamous non-small cell lung cancer (NSCLC) who have progressed after treatment with a 3rd generation EGFR tyrosine kinase inhibitor (TKI).The trial met the progression-free survival (PFS) primary endpoint and showed a posi ...

Summit Therapeutics PLC (SMMT) closed the last trading session at $25.85, gaining 10.2% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $37.38 indicates a 44.6% upside potential.The average comprises eight short-term price targets ranging from a low of $30 to a high of $44, with a standard deviation of $5.71. While the lowest estimate indicates an increase of 16.1% from the current ...

Summit Therapeutics Q1 2025 Earnings Call May 1, 2025 4:30pm ET Forward Looking Statement Any statements in this presentation 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 pot ...

Summit Therapeutics PLC (SMMT) closed the last trading session at $28.02, gaining 61.8% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $37.38 indicates a 33.4% upside potential.The mean estimate comprises eight short-term price targets with a standard deviation of $5.71. While the lowest estimate of $30 indicates a 7.1% increase from the current price level, the most optimistic an ...

Core Viewpoint - Summit Therapeutics reported a narrower loss per share in Q1 2025 compared to estimates, but still lacks any marketed products, resulting in no quarterly revenues [1][2]. Financial Performance - The company reported a loss per share of 9 cents, which is better than the Zacks Consensus Estimate of a loss of 10 cents, but wider than the 6 cents loss from the previous year [1]. - Adjusted research and development expenses increased by 65% year over year to $47.1 million, primarily due to rising clinical costs [4]. - Adjusted general and administrative expenses surged 95% year over year to $8.6 million, attributed to higher headcount and commercial readiness efforts [4]. - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments totaling $361.3 million, down from $412.3 million as of December 31, 2024 [5]. Pipeline Developments - Summit has one pipeline drug, ivonescimab, currently undergoing three late-stage studies for non-small cell lung cancer (NSCLC) [6]. - Positive results were reported from the Akeso-sponsored phase III HARMONi-6 study, showing significant improvement in progression-free survival compared to BeiGene's Tevimbra [7]. - The HARMONi-6 study is notable as the first late-stage study in NSCLC to demonstrate significant improvement over a PD-(L)1 inhibitor combined with chemotherapy [8]. - The company is also conducting the HARMONi-3 study, which compares ivonescimab plus chemotherapy against Merck's Keytruda [8]. - Akeso has secured approval for ivonescimab in a second indication based on HARMONi-2 results, although the interim overall survival analysis was not statistically significant [9]. - Summit is exploring partnerships for ivonescimab development across multiple disease areas, including a collaboration with Pfizer to evaluate the drug in combination with several of Pfizer's antibody-drug conjugates [10]. Stock Performance - SMMT's stock has surged 38% year to date, contrasting with a 2% decline in the industry [2].

It's hard to find a biotech company that has performed better than Summit Therapeutics (SMMT 2.86%) in the past year. The stock is up by a whopping 512%, and it's no secret why.Summit, a specialist in oncology, has made excellent clinical progress with its leading candidate, ivonescimab. There's more where that came from, too; Ivonescimab just knocked it out of the park in another study, a piece of news that jolted the share price.With the drugmaker's market-crushing performance  over the trailing-12-month ...

Summit Therapeutics (SMMT) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Speaker0 Thank you for standing by. Hello, and welcome to the Summit Therapeutics Q1 twenty twenty five Earnings Conference Call. I would now like to turn the call over to our Chief Business and Strategy Officer, Dave Van Carrs. Please go ahead, sir. Speaker1 Good afternoon, and thank you for joining us. A press release was issued earlier this afternoon and is available on the homepage of our website. Our Form 10 Q was also filed and ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ FORM 10-Q _________________ (Mark One) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-36866 Summit Therapeutics Inc. (Exact name of registrant as specified i ...