Loading…
Loading…
Bank of New York Mellon Corp purchased a new position in Summit Therapeutics PLC (NASDAQ: SMMT) during the undefined quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 431,299 shares of the company's stock, valued at approximately $6,284,000. Bank of New York Mellon Corp owned approximately
Summit Therapeutics stock jumps 17% after ivonescimab showed a significant overall survival benefit over Keytruda in a China phase III lung cancer study.
Summit Therapeutics Inc. (NASDAQ:SMMT) stock is trading higher on Thursday after its development partner, Akeso Inc., reported highly favorable overall survival data from a late-stage clinical trial.
Summit Therapeutics is positioned as a high-conviction buy into the November 2026 FDA PDUFA decision for ivonescimab in NSCLC. SMMT's ivonescimab demonstrates robust PFS and statistically significant OS benefits in multiple Phase III trials, supporting best-in-class potential versus PD-1 monotherapy. Financials reflect intentional capital deployment, with $690M+ cash and 4–5 quarters of runway to fund late-stage clinical catalysts and regulatory milestones.
MIAMI--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) today noted that its partner Akeso Inc. announced positive overall survival (OS) results from the randomized, double-blind Phase III HARMONi-2 study evaluating ivonescimab monotherapy against pembrolizumab monotherapy in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) whose tumors have positive PD-L1 expression. HARMONi-2 (AK112-303) is a single-region, multi-center Phase III study conducted in China.
Summit gains as positive HARMONi-GI1 data show ivonescimab's OS benefit in biliary tract cancer, expanding its potential beyond NSCLC.
Summit Therapeutics, Inc. is upgraded to Buy as negative sentiment bottoms and catalysts approach, despite high volatility and cash burn. Ivonescimab demonstrated survival benefits in Chinese NSCLC and biliary tract cancer trials, with pivotal global data and FDA decisions pending. SMMT's liquidity covers 4–5 quarters, but aggressive pipeline expansion and high operating expenses raise going concern risks.
Summit Therapeutics Inc. (NASDAQ:SMMT) partner Akeso Inc. on Wednesday released positive topline findings from its randomized Phase 3 HARMONi-GI1 clinical trial (or AK112-309).