Is It Too Late to Buy Summit Therapeutics Stock After Its Almost 10X Gain This Year?

The sky might be the limit for a biotech company with a pipeline candidate that beat the world's top-selling drug in a late-stage clinical study. Thrill-seeking investors can get their fill with the rollercoaster rides provided by clinical-stage biotech stocks. Just look at Summit Therapeutics (SMMT -6.33%). By May 7, 2024, Summit Therapeutics stock had more than doubled year to date. Only three weeks later, the biopharmaceutical company's share price was down 8% year to date -- a huge swing in the wrong di ...