Summit Therapeutics Inc. (SMMT)
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Wall Street Analysts Think Summit Therapeutics (SMMT) Could Surge 67.1%: Read This Before Placing a Bet
The consensus price target hints at a 67.1% upside potential for Summit Therapeutics (SMMT). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
A hotly debated lung cancer drug cut the risk of death by 34% in a late-stage trial in China
An experimental lung cancer drug from Akeso and Summit Therapeutics improved survival in the Harmoni-6 Phase 3 trial conducted in China, according to results being presented at the American Society of Clinical Oncology annual meeting. Called ivonescimab, the bispecific antibody targets PD-1 — similar to Merck's best-selling drug Keytruda — and VEGF — similar to Roche's Avastin.
SMMT Q1 Loss Narrower Than Expected, Stock Down on Ivonescimab Setback
Summit Therapeutics posts narrower Q1 loss but stock plunges 25% after ivonescimab setback, raising concerns over its late-stage cancer pipeline progress.
Summit Therapeutics Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 John H. Burbank III Passport Capital LLC | 36.39M | $452M | $548.41M | $96.41M | 21.33% |
 QVT Financial QVT Financial LP | 360,524 | $2.81M | $5.43M | $2.62M | 93.2% |
 Point72 Asset Management LP Point72 Asset Management LP | 784,186 | $14.87M | $11.82M | -$3.05M | -20.52% |
| DD Damir Durkovic Entropy Technologies, LP | 21,783 | $380,984.34 | $328,269.81 | -$52,714.53 | -13.84% |
| AS Alexandra Stickelman Root Financial Partners, LLC | 1 | $20.67 | $15.07 | -$5.6 | -27.08% |
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Summit Therapeutics Inc. Profile
| Biotechnology Industry | Healthcare Sector | Robert W. Duggan CEO | NASDAQ (NMS) Exchange | 86627T108 CUSIP |
| US Country | 159 Employees | - Last Dividend | - Last Split | 5 Mar 2015 IPO Date |
Overview
Summit Therapeutics Inc. stands as a pioneering entity within the biopharmaceutical industry, dedicating its efforts toward the discovery, development, and commercialization of innovative therapeutic solutions. With a mission to cater to the needs of patients, physicians, caregivers, and society at large, the company has established a significant presence in both the United States and the United Kingdom. Since its inception in 2003, with its headquarters in Miami, Florida, Summit Therapeutics has been at the forefront of addressing some of the most challenging medical conditions by advancing a pipeline of promising drug candidates. The collaboration and license agreement with Akeso, Inc. and its affiliates specifically for the development and commercialization of ivonescimab highlights the company's strategy to leverage partnerships in realizing its vision.
Products and Services
- Ivonescimab
- SMT-738
This lead development candidate exemplifies Summit Therapeutics' focus on groundbreaking immunotherapy approaches. Ivonescimab is a bispecific antibody designed to block PD-1, enhancing the immune system's ability to fight cancer, while also targeting anti-angiogenesis, which is the process of cutting off the blood supply to tumors. This dual mechanism of action positions ivonescimab as a potentially powerful treatment for various cancers, reflecting Summit's commitment to advancing cancer treatment.
Under its portfolio of anti-infectives, Summit Therapeutics is developing SMT-738, a novel class of precision antibiotics aimed at combating multidrug-resistant infections, with a primary focus on tackling carbapenem-resistant Enterobacteriaceae (CRE) infections. The increasing prevalence of antibiotic-resistant infections represents a significant threat to public health, and SMT-738 is at the forefront of Summit's effort to develop effective treatments for these challenging conditions. By focusing on precision antibiotics, Summit aims to deliver treatments that are not only effective against pathogens but also minimize the impact on the body's beneficial bacteria, thus offering a groundbreaking approach to tackling antibiotic resistance.
