Cantor Fitzgerald Reaffirms Overweight Rating on Summit Therapeutics (SMMT) Before Key 2026 Catalyst

Core Viewpoint - Summit Therapeutics Inc. (NASDAQ:SMMT) is highlighted as one of the best stocks under $25 to buy, with a strong outlook supported by Cantor Fitzgerald's Overweight rating, particularly due to the upcoming global phase 3 HARMONi-3 study in 2026 [1][4]. Group 1: HARMONi-3 Study Details - The HARMONi-3 trial will be divided into two histological cohorts, comparing ivonescimab with chemotherapy against pembrolizumab plus chemotherapy for metastatic squamous and non-squamous non-small cell lung cancer (NSCLC) [2]. - Preliminary findings for the squamous population are expected to be presented in the latter half of 2026, with enrollment in the non-squamous cohort projected to conclude in the same period [3]. - The non-squamous cohort is estimated to reach the progression-free survival event threshold in the first half of 2027 [3]. Group 2: Investment Potential - Cantor Fitzgerald describes the findings from the HARMONi-3 study as potentially "biotech's most important catalyst in 2026" and "the biggest binary event in the history of biotech" [4]. - Summit Therapeutics is focused on developing treatments for serious unmet medical needs in oncology, with ivonescimab being its lead drug, a bispecific antibody [4].