Summit Therapeutics (US:SMMT) Prnewswireยท2025-06-12 13:00Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices by Summit Therapeutics Inc. and its officers or directors, following disappointing clinical trial results that negatively impacted the company's stock price [1][2]. Group 1: Clinical Trial Results - On May 30, 2025, Summit announced topline results from the Phase III clinical trial, HARMONi, evaluating ivonescimab, which showed that patients treated with ivonescimab and chemotherapy were 48% less likely to progress or die compared to those receiving chemotherapy alone [2]. - Despite the positive progression-free survival results, the drug did not demonstrate a statistically significant difference in overall survival, which measures the duration patients live before dying from any cause [2]. Group 2: Stock Price Impact - Following the announcement of the clinical trial results, Summit's stock price fell by $7.99 per share, representing a 30.5% decline, closing at $18.22 per share on May 30, 2025 [3]. Group 3: Legal Investigation - Pomerantz LLP, a prominent firm in corporate and securities class litigation, is representing investors in investigating claims against Summit Therapeutics for potential securities fraud [1][4].