Summit Therapeutics
Summit Therapeutics is a biopharmaceutical company focused on developing innovative cancer therapies. Here are some key points about the company:
Company Overview
- Summit Therapeutics is headquartered in Menlo Park, California
- It is a publicly traded company listed on NASDAQ under the ticker SMMT
- The company's mission is to resolve serious unmet medical needs in oncology
Lead Drug Candidate
Summit's lead drug candidate is ivonescimab (also known as SMT112):
- Ivonescimab is a novel bispecific antibody that targets both PD-1 and VEGF[1]
- It is designed to combine immunotherapy effects with anti-angiogenesis effects
- Over 1,800 patients have been treated with ivonescimab in clinical trials globally
Clinical Development
Summit is currently conducting two Phase III clinical trials for ivonescimab:
- HARMONi trial for non-small cell lung cancer (NSCLC)
- HARMONi-3 trial, also for NSCLC
Recent clinical data has shown promising results:
- In the Phase 3 HARMONi-2 trial in China, ivonescimab demonstrated statistically significant improvement in progression-free survival compared to Merck's Keytruda in first-line NSCLC treatment
- The drug showed benefits across various patient subgroups, including those with low and high PD-L1 expression
Strategic Partnerships
- Summit has a partnership with Akeso Inc., which discovered ivonescimab
- The company recently announced a 5-year strategic collaboration with MD Anderson Cancer Center to accelerate ivonescimab's development
Financial Performance
- Summit's stock price reached a 52-week high of $11.94 in August 2024, representing a 575% increase over the past year
- The company has a market capitalization of $8.14 billion as of September 2024
Leadership
- Robert W. Duggan serves as CEO and Chairman
- Dr. Mahkam Zanganeh is CEO, President, and a Director
Summit Therapeutics aims to develop ivonescimab for multiple cancer indications and expand its oncology pipeline in the coming years.
Summit Therapeutics (NASDAQ: SMMT) has experienced significant growth in its valuation recently. Here are the key details about Summit Therapeutics' current valuation:
Market Capitalization
Summit Therapeutics has a market capitalization of $9.08 billion as of September 3, 2024. This valuation places the company firmly in the large-cap category of publicly traded companies.
Stock Performance
The company's stock has shown strong performance:
- Current stock price: $12.54 (as of September 3, 2024, 14:15:00 EST)
- 52-week high: $14.25
- 52-week low: $1.52
This represents a remarkable increase from its 52-week low, indicating substantial investor interest and confidence in the company's prospects.
Trading Metrics
- Average 50-day price: $10.1385
- Average 200-day price: $5.5725
The current price being significantly higher than both the 50-day and 200-day averages suggests a strong upward trend in the stock's value.
Volume and Liquidity
- Current trading volume: 1,037,514 shares
- Average volume: 2,384,495 shares
The high trading volume indicates significant investor activity and liquidity in the stock.
Valuation Ratios
- Earnings per share (EPS): -$0.11
- Price-to-earnings (P/E) ratio: -114.0
The negative P/E ratio reflects that the company is currently not profitable, which is not uncommon for biopharmaceutical companies in the development stage of their lead candidates.
Recent Performance
On September 3, 2024, Summit Therapeutics' stock opened at $12.98 and has seen intraday fluctuations:
- Day's high: $13.05
- Day's low: $12.02
- Current price: $12.54 (as of 14:15:00 EST)
The stock is currently down 3.39% from the previous close, with a change of -$0.44.
Summit Therapeutics' high valuation and strong stock performance likely reflect investor optimism about the company's lead drug candidate, ivonescimab, and its potential in the oncology market. However, as with all biopharmaceutical companies, future valuation will depend heavily on clinical trial results and regulatory approvals.
