Latest news with #SummitTherapeutics
Yahoo
6 days ago
- Business
- Yahoo
Summit Therapeutics (SMMT) Jumps 7.6% on Reports of $15-Billion AstraZeneca Deal
Summit Therapeutics Inc. (NASDAQ:SMMT) is one of the . Summit Therapeutics jumped by 7.61 percent on Wednesday, a second day, to close at $24.74 apiece as reports about a $15-billion partnership with AstraZeneca continued to excite investors. In a report by Bloomberg last week, Summit Therapeutics Inc. (NASDAQ:SMMT) was reportedly in talks with AstraZeneca to license its experimental lung cancer drug Ivonescimab. The deal could include an upfront payment of several billion dollars to Summit Therapeutics Inc. (NASDAQ:SMMT) on top of milestone payments later on. However, a deal remains not guaranteed as Summit Therapeutics Inc. (NASDAQ:SMMT) could still opt for a different licensing partner. A laboratory employee in a sterile environment inspecting a microscope focused on a Clostridioides difficile infection sample. The negotiations followed Summit Therapeutics Inc.'s (NASDAQ:SMMT) $5-billion licensing deal with China-based Akeso in December 2022. Ivonescimab is an investigational therapy that has yet to be approved by any regulatory authority other than China's National Medical Products Administration. While we acknowledge the potential of SMMT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-07-2025
- Business
- Yahoo
Summit Therapeutics Reportedly Makes $15B AstraZeneca Licensing Talks for Lung Cancer Drug
Summit Therapeutics Inc. (NASDAQ:SMMT) is one of the best hot stocks to buy according to Wall Street analysts. On July 3, Bloomberg News reported that AstraZeneca (NASDAQ:AZN) is in discussions with Summit Therapeutics for a licensing agreement concerning an experimental lung cancer drug, with a potential value of up to $15 billion. The proposed deal for the drug, which is known as ivonescimab, could involve an upfront payment of several billion dollars to Summit, in addition to future milestone payments. However, the talks are ongoing and could still fall apart. Summit might even choose to partner with a different company. Neither Summit nor AstraZeneca has officially commented on the report. A laboratory employee in a sterile environment inspecting a microscope focused on a Clostridioides difficile infection sample. Summit Therapeutics secured the rights to ivonescimab through a separate deal worth up to $5 billion with China-based Akeso in December 2022. Under that agreement, Summit gained exclusive rights to develop and commercialize ivonescimab in the US, Canada, Europe, and Japan, while Akeso (OTC:AKESF) retained rights for other regions, including China. The deal included an upfront payment of $500 million to Akeso and potential regulatory and commercial milestones of up to $4.5 billion. Summit Therapeutics Inc. (NASDAQ:SMMT) is a biopharmaceutical company that discovers, develops, and commercializes patient, physician, caregiver, and societal-friendly medicinal therapies. AstraZeneca (NASDAQ:AZN) is a biopharmaceutical company that discovers, develops, manufactures, and commercializes prescription medicines. While we acknowledge the potential of SMMT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-07-2025
- Business
- Yahoo
Revolution Medicines, Summit Therapeutics Partner on RAS Inhibitor/Ivonescimab Combinations for Solid Tumors
Revolution Medicines Inc. (NASDAQ:RVMD) is one of the best high short interest stocks with huge upside potential. On June 30, Revolution Medicines and Summit Therapeutics Inc. (NASDAQ:SMMT) announced a clinical collaboration to evaluate combinations of Revolution Medicines' investigational RAS(-ON) inhibitors with Summit Therapeutics' ivonescimab in multiple solid tumor settings. The collaboration will assess the safety and efficacy of these combinations in RAS mutant non-small cell lung cancer/NSCLC, pancreatic ductal adenocarcinoma/PDAC, and colorectal cancer/CRC. Under the agreement, Summit Therapeutics will supply ivonescimab for clinical research, while Revolution Medicines will serve as the study sponsor. Both companies will retain commercial rights to their respective compounds. A researcher poring over test results, illustrating the breakthrough potential of biotechnology. The agreement is mutually non-exclusive, allowing each company to pursue additional partnerships. Revolution Medicines will contribute 3 of its clinical-stage RAS(-ON) inhibitors to the collaboration: daraxonrasib (RMC-6236), which is a multi-selective inhibitor; zoldonrasib (RMC-9805), which is a G12D-selective inhibitor; and elironrasib (RMC-6291), which is a G12C-selective inhibitor. Revolution Medicines Inc. (NASDAQ:RVMD) is a clinical-stage precision oncology company that develops novel targeted therapies for RAS-addicted cancers. Summit Therapeutics Inc. (NASDAQ:SMMT) is a biopharmaceutical company. While we acknowledge the potential of RVMD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
05-07-2025
- Business
- Yahoo
2 Soaring Stocks With More Upside Potential to Buy and Hold
Summit Therapeutics' potential pipeline could help drive strong stock performances for a long time. SoFi is finally showing that its business model can be profitable, and the stock still has plenty of upside. 10 stocks we like better than Summit Therapeutics › Is it worth it to buy a stock after it experiences significant market gains? The answer is, it depends. Some companies don't have much growth fuel left in the tank after a nice run, while others still boast significant upside potential after juicy gains. It's best to stay away from the former, but the investing wisdom according to which we should "buy low" still applies to the latter. Let's consider two companies that have performed exceptionally well recently but still have excellent long-term prospects: Summit Therapeutics (NASDAQ: SMMT) and SoFi Technologies (NASDAQ: SOFI). Summit Therapeutics has been on a tear over the past two years thanks to progress with its leading pipeline candidate, ivonescimab. The biotech licensed out this investigational cancer medicine from China-based Akeso Biopharma. Summit Therapeutics owns the rights to the medicine in most regions, including the most lucrative ones for biotech companies: North America and Europe. Last year, ivonescimab produced excellent results in a phase 3 study in China (where it is approved) for patients with non-small cell lung cancer (NSCLC). The study pitted ivonescimab against the market leader, Merck's Keytruda. Since Keytruda is the world's best-selling drug and NSCLC is one of its most important markets, ivonescimab's potential looks massive. Although Summit Therapeutics' shares have already soared as a result, the company's future still looks bright. Here are two reasons why. First, Summit Therapeutics is conducting late-stage studies for ivonescimab in the U.S. and is expected to release key data readouts in the next couple of years, which could significantly affect its stock price. Second, even though NSCLC is going to be a crucial market for ivonescimab's success, the medicine looks like a potential pipeline in a drug. It is being tested across many different types of cancers. Ivonescimab could rack up approvals and label expansions for years to come. Summit may encounter clinical or regulatory setbacks. It's good to keep that in mind before initiating a position. But the stock could deliver monster results in the next five years if its master plan comes to fruition. Shares of SoFi -- an online bank -- have more than doubled over the trailing 12-month period. That's an impressive achievement, especially considering the somewhat challenging economic conditions we face. Many fear that President Donald Trump's trade agenda could lead to inflation or a recession. That would affect consumer behavior, resulting in slower loan demand and increased loan defaults, all of which would be detrimental to SoFi. Despite the risk, the market has been impressed with SoFi's financial results. In the first quarter, the company's revenue increased by 20% year over year to $771.8 million. SoFi's net income dropped by 19% year over year to $71.1 million, but it was well above management's own guidance. SoFi's results were strong across the board, with the company's membership and products also moving in the right direction. That will remain the blueprint for long-term success for SoFi. First, the number of members on its platform should continue growing. SoFi is an entirely online bank with no physical locations (which allows the company to save on overhead costs). Digital banking is the future, as evidenced by the fact that younger generations are more likely to engage in it than older ones. Legacy banking institutions have adapted, but SoFi is also popular -- it ended Q1 with a record 10.9 million members, up 34% compared to the year-ago period. Second, SoFi could grow its revenue even without expanding its membership base, by cross-selling additional products to its existing users. The company recorded 15.9 million products in Q1. That means it had, on average, about 1.5 products per member, despite offering many more than that amount. Third, SoFi has consistently expanded its pool of offerings, which provides other growth opportunities and makes its platform even more attractive to consumers. Although the stock could suffer in a recession, SoFi is well-positioned to perform well over the long run. So, even after its terrific performance in the past year, the stock remains a buy. Before you buy stock in Summit Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Summit Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Merck and Summit Therapeutics. The Motley Fool has a disclosure policy. 2 Soaring Stocks With More Upside Potential to Buy and Hold was originally published by The Motley Fool
Yahoo
04-07-2025
- Business
- Yahoo
Why Summit Therapeutics Stock Soared 8% Higher Today
A large, well-capitalized peer is apparently interested in a partnership deal with the company. This could be worth up to $15 billion in total, according to a media report. 10 stocks we like better than Summit Therapeutics › One day before the July Fourth holiday, the stock of clinical-stage biotech Summit Therapeutics (NASDAQ: SMMT) exploded like a powerful fireworks display. Shares of the cancer-focused company leaped by 8%, on a media report that a well-known peer was interested in a licensing deal. That rise bettered the S&P 500's (SNPINDEX: ^GSPC) 0.8% increase by several orders of magnitude. The media outlet in question was Bloomberg, which that morning published an article asserting that AstraZeneca is in talks with Summit about a partnership between the two companies. According to unnamed "people familiar with the matter," the piece stated that such a partnership would center on the investigational lung cancer treatment ivonescimab. The drug, which Summit licenses from Chinese peer Akeso, has recently attracted much attention from the healthcare community and investors alike. This was due to its impressive performance in a late-stage clinical trial. Bloomberg's sources said that the terms of a potential deal were still being hashed out. They might include an up-front payment of several billion dollars, and several milestone payments over time (this kind of structure is common in pharmaceutical industry licensing/partnership arrangements). All told, a deal between the two companies could pay out as much as $15 billion. Both Summit and AstraZeneca declined comment on the Bloomberg article. When a drug development program attracts $15 billion worth of interest from a major industry player with deep pockets, it's almost indisputably a win. If the Bloomberg report is accurate and a deal is indeed in the works (and is ultimately agreed upon), it would open a great, powerful, and quick road to success for Summit. It's little wonder investors were so happy about the possibility. Before you buy stock in Summit Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Summit Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $692,914!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $963,866!* Now, it's worth noting Stock Advisor's total average return is 1,049% — a market-crushing outperformance compared to 179% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 30, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Summit Therapeutics. The Motley Fool recommends AstraZeneca Plc. The Motley Fool has a disclosure policy. Why Summit Therapeutics Stock Soared 8% Higher Today was originally published by The Motley Fool
