Summit Therapeutics stock is up a remarkable 700% this year.
Summit Therapeutics is having a great year, and it could realize revenue soon. Its partner Akeso could keep its pipeline packed with late-stage programs.
Viking Therapeutics and Summit Therapeutics both have potential blockbusters on their hands. Their shares have soared this year on the back of strong clinical progress.
Summit Therapeutics' stock is way up in response to clinical trial results that suggest the cancer therapy it's developing could become the standard of care for lots of patients. Instil Bio stock soared because it's developing a bispecific antibody similar to the candidate that pushed up Summit Therapeutics.
This biotech has skyrocketed in value since January. It owes its performance to a potential billion-dollar cancer drug.
Positive results for Summit's cancer drug in a head-to-head study against Keytruda have caused its stock to soar. Investors have great expectations for Summit's lead candidate.
Summit's cancer drug ivonescimab outperformed Keytruda in a recent clinical trial. The success of that trial led to a massive rally for the healthcare stock.
A bispecific antibody Summit Therapeutics licensed from Akeso outperformed the world's best-selling cancer therapy. In a phase 3 trial, treatment with ivonescimab reduced patients' risk of disease progression by 49% compared to Keytruda.
Summit's Ivonescimab bested Keytruda in a phase 3 trial for lung cancer patients with the PD-L1 gene. Following the early-week stock spike, Summit raised over $200 million from investors.
Several accredited investors entered an agreement to buy roughly $235 million of Summit Therapeutics stock. These investors included several of the biopharmaceutical company's executives and board members.
Summit Therapeutics Inc. NASDAQ: SMMT has seen a meteoric rise this month, surging over 106% after releasing positive clinical trial results for its experimental cancer therapy. Year-to-date, the stock is up a staggering 769%.
Data from a late-stage study shows that SMMT's experimental antibody beat Keytruda in a head-to-head setting in treating certain patients with NSCLC.