Why Summit Therapeutics Stock Is Sinking Today

Investors continue to react negatively to recent late-stage results for Summit's experimental cancer therapy. Shares of Summit Therapeutics (SMMT -23.67%) were sinking 22.6% as of 11:10 a.m. ET on Tuesday. This sell-off follows a similar steep decline of 22% on Friday after Summit revealed late-stage data for its lead candidate, ivonescimab, in combination with chemotherapy in treating non-small cell lung cancer (NSCLC). Investors reacted negatively to the late-stage data for ivonescimab. However, there was ...