Summit Therapeutics Surges on Trial Results: Time to Buy?

Summit Therapeutics Inc. NASDAQ: SMMT has seen a meteoric rise this month, surging over 106% after releasing positive clinical trial results for its experimental cancer therapy. Year-to-date, the stock is up a staggering 769%. This sharp uptick in share price was driven by the results of a Phase 3 study presented on September 8 at the 2024 World Conference on Lung Cancer in San Diego, which suggests its lead drug candidate, Ivonescimab, could significantly outperform the current standard of care for lung ca ...