Summit Therapeutics

Summit Therapeutics, Inc. a biopharmaceutical company, which discovers, develops, and commercializes medicines to treat infectious diseases. The firm conducts clinical programs focusing on Clostridioides Difficile Infection (CDI). Its lead product, Ridinilazole, is an orally administered small molecule antibiotic that is in Phase III clinical trials for the treatment of CDI. The company was founded in 2003 and is headquartered in Menlo Park, CA.

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Summit Therapeutics reports strong financials and strategic Akeso partnership

Summit Therapeutics showcased strong financials, promising clinical trial results, and a strategic partnership with Akeso for ivonescimab, positioning the company for growth.
While facing challenges around licensing agreements and international trial data acceptance, Summit's focus on oncology and global collaborations presents opportunities for future success.
With a solid financial foundation, innovative pipeline, and strategic vision, Summit is well-positioned to navigate challenges, capitalize on opportunities, and drive value for stakeholders.

Summit Therapeutics secures $5B deal for ivonescimab, shifts to oncology

Summit Therapeutics made a strategic move with a $5 billion transaction for ivonescimab, signaling a shift towards oncology-focused R&D.
While challenges exist in transitioning away from anti-infectives, Summit's strong financial position and Phase III progress offer promising opportunities.
The company's commitment to innovative therapies and strategic partnerships sets the stage for potential growth and market success.

Summit Therapeutics reports stable finances and progress in Phase III trials

Summit Therapeutics showcased resilience with a strong cash position despite reporting a net loss in Q2 2023.
The company's progress in Phase III trials and positive patient response data offer promise for future growth.
While facing challenges in trial execution and financial pressures, Summit has opportunities to advance its pipeline and attract investor support.

Summit Therapeutics advances ivonescimab in Q3 with strong financials

Summit Therapeutics is making significant strides in advancing ivonescimab for solid tumors, supported by strong financials and strategic partnerships. While facing challenges in differentiation and competitive landscape, the company is well-positioned to seize opportunities for growth and innovation. With a focus on operational excellence and clinical trial progress, Summit remains poised for future success.

Summit Therapeutics excels in Q4 with Ivonescimab progress and challenges

Summit Therapeutics showcased strong performance and financial stability, driven by advancements in Ivonescimab's trials and partnerships.
While facing challenges such as upcoming regulatory actions and timeline constraints, the company remains poised to leverage opportunities for market differentiation and growth.

Summit Therapeutics advances ivonescimab in oncology, eyes Phase III data

Summit Therapeutics made significant progress in Q1 2024, bolstered by strong financials and strategic collaborations. The company's focus on ivonescimab's potential in oncology, along with upcoming data releases, positions it for future success. Managing R&D expenses and leveraging key partnerships will be critical for sustained growth.

Summit Therapeutics advances ivonescimab with strong financial backing and collaborations

Summit Therapeutics made significant progress in clinical trials and regulatory milestones for ivonescimab, supported by strong financials and strategic collaborations.
While facing challenges in data disclosure and operational management, the company has opportunities to drive growth through further trial success and partnerships.
Overall, Summit Therapeutics is well-positioned to capitalize on its strengths and navigate challenges to unlock future opportunities in the competitive biopharmaceutical landscape.
Investors should monitor the company's continued progress in trials, partnerships, and financial management for insights into its long-term growth potential.

Summit Therapeutics advances ivonescimab with strong financial backing and global trials

Summit Therapeutics demonstrated strong performance in advancing ivonescimab, supported by robust financial management and operational efficiency.
While facing challenges in regulatory uncertainties and managing expenses, the company has opportunities to leverage positive trial outcomes and strategic expansions.
Overall, Summit Therapeutics' progress with ivonescimab presents a promising outlook for accelerated development and market growth in diverse tumor settings.

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Summit Therapeutics, Inc. is a biopharmaceutical company, that focuses on the discovery, development, and commercialization of patient, physician, caregiver, and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs. The firm conducts clinical programs focusing on Clostridioides Difficile Infection (CDI). Its lead product, Ridinilazole, is an orally administered small molecule antibiotic that is in Phase III clinical trials for the treatment of CDI. The company was founded in 2003 and is headquartered in Miami, FL.

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Manmeet Soni joins Summit as Chief Operating Officer. Dave Gancarz, Urte Gayko, Fong Clow, and Allen Yang have been elevated to new leadership roles.

Summit Therapeutics Appoints Proven Biotech Leader Manmeet S. Soni as Chief Operating Officer

Summit Therapeutics Inc., backed by biotech billionaire Bob Duggan, has transitioned from developing antibiotics to becoming an oncology therapeutics developer. The company purchased the oncology asset Ivonescimab for nearly half a billion dollars and now has a market cap of over $1 billion. Summit plans to begin phase 3 trials for Ivonescimab in the U.S., but the Chinese clinical data may not hold much value.

Summit Therapeutics: Not For Retail Investors

Arcutis Biotherapeutics

Cytomed Therapeutics Ltd

Jiangsu Hengrui Pharma out-licensed global rights for an anti-inflammatory drug to ONE Bio in a $1 billion deal. Shanghai Sangon Biotech raised $290 million in funding from private investors. Hangzhou Zhongmei Huadong Pharma in-licensed China-SE Asia rights to a topical steroid-free therapy for skin diseases from Arcutis in a $94 million deal.

Week In Review: Hengrui Out-Licenses Novel Anti-Inflammatory To One Bio In $1 Billion Deal

Summit Therapeutics, Inc. (NASDAQ:SMMT ) Q2 2023 Earnings Conference Call August 9, 2023 9:00 AM ET Company Participants Dave Gancarz - SVP, Stakeholder Relations, Business Development & Corporate Strategy Robert Duggan - CEO & Executive Chairman Mahkam Zanganeh - CEO, President & Director Ankur Dhingra - CFO Allen Yang - Former Head, Clinical Development & Acting Chief Medical Officer Conference Call Participants Operator Good morning, everyone, and welcome to the Summit Therapeutics Second Quarter 2023 Earnings Call. Please note that this call is being recorded.

Summit Therapeutics, Inc. (SMMT) Q2 2023 Earnings Call Transcript

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today reports its financial results and provides an update on operational progress for the second quarter and six months ended June 30, 2023. Operational & Corporate Updates Our operational progress with ivonescimab (SMT112), an innovative, potentially first-in-class bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effect.

Summit Therapeutics Reports Financial Results and Operational Progress for the Second Quarter and Six Months Ended June 30, 2023

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics to host its quarterly Earnings Call on August 9, 2023 at 9:00am ET.

Summit Therapeutics to Host Q2 2023 Financial Results & Operational Progress Call on August 9, 2023

NEW YORK , July 10, 2023 /PRNewswire/ -- Purcell & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of Summit Therapeutics Inc. (NASDAQ: SMMT). If you are a shareholder of Summit Therapeutics Inc. and are interested in obtaining additional information regarding this investigation, free of charge, please visit us at: https://pjlfirm.com/summit-therapeutics-inc/ You may also contact Robert H.

SHAREHOLDER ALERT: Purcell & Lefkowitz LLP Is Investigating Summit Therapeutics Inc. for Potential Breaches of Fiduciary Duty By Its Board of Directors

Summit Therapeutics Inc. goes in the spotlight today, as the company has made substantial changes to its developmental focus over the past year. Largely new management has made a "bet the company" move via a huge collaboration deal around a promising oncology asset. Will this wager pay off?  An investment analysis follows in the paragraphs below.

Summit Therapeutics Makes A Leap Of Faith

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Promising Data Supporting Summit's Phase III Clinical Trials for Ivonescimab Featured at ASCO 2023.

Promising Data for Investigational Innovative Bispecific Ivonescimab Featured at ASCO 2023

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit,” “we,” or the “Company”) today announced that data for its novel, potential first-in-class investigational bispecific antibody, ivonescimab, will be presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, IL. The poster with updated clinical data from Phase II clinical trials will be displayed on Sunday June 4 from 8:00 to 11:00am Central Time during the Lung Cancer – Non.

Ivonescimab Updated Data to be Featured at ASCO 2023

Summit's cash position is worrying. The company only has one therapy in clinical trials.

Why Shares of Summit Therapeutics Slumped on Tuesday

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today reports its financial results and provides an update on operational progress for the first quarter ended March 31, 2023. Operational & Corporate Updates Our Collaboration and License Agreement with Akeso Inc. (Akeso) for ivonescimab: On December 5, 2022, Summit and Akeso entered into a Collaboration and License Agreement for ivonescimab, Akeso's innovative, potentially first.

Summit Therapeutics Reports Financial Results and Operational Progress for the First Quarter Ended March 31, 2023

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit,” “we,” or the “Company”) today announced that the first United States-based patient has been enrolled in the Phase III HARMONi study. HARMONi is a Phase III multiregional, randomized, double-blinded study. The study will evaluate the efficacy and safety of ivonescimab combined with chemotherapy in patients with epidermal growth factor receptor (EGFR)-mutated, locally advanced or metastatic non-squamous non-sm.

Summit Therapeutics Announces First Patient Treated in Phase III HARMONi Clinical Trial Evaluating Ivonescimab (SMT112)

The company's current pipeline only includes two drugs. Summit Therapeutics' shares are up more than 93% over the past 12 months.

Why Shares of Summit Therapeutics Soared This Week

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics announces its initial indications for clinical trials for ivonescimab and its Q1 2023 Earnings Call date and time.

Summit Therapeutics Announces Initial Indications for Clinical Trials for Ivonescimab (SMT112)

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Strong Small-Cap Insider Buys: Q1 2023

Summit Therapeutics is mostly owned by Bob Duggan, who made billions from selling Pharmacyclics. However, Pharmacyclics had something to sell.

Summit Therapeutics: Another Billionaire Project That Isn't Going Anywhere

LOS ANGELES--(BUSINESS WIRE)---- $SMMT #SMMT--The Schall Law Firm Announces it is Investigating Claims Against Summit Therapeutics Inc.

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Summit Therapeutics Inc. and Encourages Investors with Losses to Contact the Firm

Summit Therapeutics Inc. (NASDAQ:SMMT ) Q4 2022 Results Conference Call March 9, 2023 9:00 AM ET Company Participants Dave Gancarz - SVP, Corporate Strategy and Stakeholder Relations Dr. Maky Zanganeh - Co-CEO and President Bob Duggan - Chairman and CEO Ankur Dhingra - CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today.

Summit Therapeutics Inc. (SMMT) Q4 2022 Earnings Call Transcript

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics announces its Q4 and year-ended 2022 earnings and will host a conference call at 9am EST today (March 9, 2023).

Summit Therapeutics Reports Financial Results and Operational Progress for the Fourth Quarter and Year Ended December 31, 2022

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics announces the closing of its fully-subscribed, $500 million rights offering. Summit will also host an earnings call on March 9.

Summit Therapeutics Closes Fully-Subscribed $500 Million Rights Offering

MENLO PARK, Calif.--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit,” “we,” or the “Company”) today announced that it is nearing the previously-announced expiration date for its rights offering of 5:00 pm Eastern Time on March 1, 2023 (the “Expiration Date”). As a reminder, the subscription price per share shall be equal to the lesser of (i) $1.

Summit Therapeutics' Rights Offering Nearing Expiration Date

MENLO PARK, Calif.--( BUSINESS WIRE )--Summit Therapeutics Inc. (NASDAQ: SMMT) (“Summit” or the “Company”) today announced that the Company's Board of Directors has set the record date for the Company's previously announced rights offering, which will be available to all holders of record of the Company's common stock, par value $0.01 (the “Common Stock”), as of the close of the market on February 6, 2023 (the “Record Date”).

Summit Therapeutics Announces Timing for Rights Offering for Up to $500 Million

Summit Therapeutics rallied hard off 52-week lows in December after its licensing deal for Ivonescimab was announced. Gains have extended into the new year, which is promising for those seeking to enter long at the current market value.

Summit Therapeutics: Ivonescimab Deal Potential Mid-Term Growth Driver

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The fourth quarter of 2022 was relatively better for the stock markets, with the S&P 500 up over 7% (its only positive quarterly return for the year).

News for Summit Therapeutics Stock (SMMT)