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Summit Therapeutics Inc

Summit Therapeutics Inc (SMMT)

8.39
0.30
(3.71%)
Closed June 16 4:00PM
8.47
0.08
(0.95%)
After Hours: 7:53PM

Empower your portfolio: Real-time discussions and actionable trading ideas.

Key stats and details

Current Price
8.47
Bid
7.30
Ask
11.24
Volume
1,870,845
7.96 Day's Range 8.48
0.00 52 Week Range 0.00
Market Cap
Previous Close
8.09
Open
7.96
Last Trade
2
@
8.47
Last Trade Time
Financial Volume
$ 15,305,776
VWAP
8.1812
Average Volume (3m)
-
Shares Outstanding
700,843,000
Dividend Yield
-
PE Ratio
-9.55
Earnings Per Share (EPS)
-0.88
Revenue
1M
Net Profit
-614.93M

About Summit Therapeutics Inc

Summit Therapeutics Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel antibiotics for serious infectious diseases. Its lead CDI (Clostridiodes difficile infection) product candidate is ridinilazole, an orally administered small molecule ant... Summit Therapeutics Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel antibiotics for serious infectious diseases. Its lead CDI (Clostridiodes difficile infection) product candidate is ridinilazole, an orally administered small molecule antibiotic. It has two geographical segments: the United States and the United Kingdom. Show more

Sector
Pharmaceutical Preparations
Industry
Pharmaceutical Preparations
Website
Headquarters
Wilmington, Delaware, USA
Founded
1970
Summit Therapeutics Inc is listed in the Pharmaceutical Preparations sector of the NASDAQ with ticker SMMT. The last closing price for Summit Therapeutics was $8.09. Over the last year, Summit Therapeutics shares have traded in a share price range of $ 0.00 to $ 0.00.

Summit Therapeutics currently has 700,843,000 shares outstanding. The market capitalization of Summit Therapeutics is $5.87 billion. Summit Therapeutics has a price to earnings ratio (PE ratio) of -9.55.

Summit Therapeutics (SMMT) Options Flow Summary

Overall Flow

Bullish

Net Premium

36k

Calls / Puts

100.00%

Buys / Sells

100.00%

OTM / ITM

0.00%

Sweeps Ratio

0.00%

SMMT Latest News

Summit Raises $200 Million; Also Expands License Territories for Ivonescimab

$200 Million in Net Proceeds Raised at Premium to Previous Closing Price In Separate Transaction, Summit Expanded License Territories for Ivonescimab in Deal with Akeso to include Latin America...

Ivonescimab Manuscript for HARMONi-A Clinical Trial Results Published in JAMA

Publication Entitled: Ivonescimab Plus Chemotherapy in Non–Small Cell Lung Cancer With EGFR Variant: A Randomized Clinical Trial HARMONi-A was Featured in Oral Presentation at ASCO 2024 on May...

 Ivonescimab in Combination with Chemotherapy Approved in China by NMPA for 2L+ EGFRm NSCLC based on HARMONi-A Clinical Trial: Positive Trend Observed in Overall Survival towards Ivonescimab Plus Chemotherapy

 Separate & Distinct from HARMONi-2 Announcement, HARMONi-A Showed Clinically Meaningful and Statistically Significant Benefit: PFS Hazard Ratio of 0.46 For Subset of Patients Previously...

Summit Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today announced the grant of inducement awards of options to purchase a collective total of up to 200,000 shares of...

Ivonescimab Monotherapy Decisively Beats Pembrolizumab Monotherapy Head-to-Head, Achieves Statistically Significant Superiority in PFS in First-Line Treatment of Patients with PD-L1 Positive NSCLC in China

Unprecedented: Ivonescimab Is the First Drug to Achieve Clinically Meaningful Benefit over Pembrolizumab in Randomized Phase III Clinical Trial in NSCLC Monotherapy Ivonescimab Achieved...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
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SMMT Discussion

View Posts
Rayn_Makr Rayn_Makr 3 days ago
Watching the trades at the close yesterday, Wednesday 6/12/24, and in the final 15 sec, 502,000 shares @ $8.22 = $4,126,440. Short covering or tute buying in? IDK but I'm thinking this is a market order that gets filled without moving the price. Big money is all I know and it caught my interest. Thought it supports the current price.

Thanks for the link axel.
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axelvento axelvento 2 weeks ago
Summit Therapeutics' Jack West on the company's PD-1xVEGF bi-specific vs Keytruda news

https://www.biotechtv.com/post/summit-therapeutics-june-1-2024

$HUGE
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JFR161162 JFR161162 2 weeks ago
I meant NWBO pre opening trades
Wrong board sorry
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JFR161162 JFR161162 2 weeks ago
I see 2 pre opening trades this morning.

1,400 shares at $,4816
5,100 shares at $,50

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Single Stock Single Stock 2 weeks ago
TRADING HALT
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Rayn_Makr Rayn_Makr 2 weeks ago
Here's the link to the JAMA publication: https://jamanetwork.com/journals/jama/fullarticle/2819600
I've spent the afternoon reading it a couple times and here's my $0.02 worth.

The P-values on all the stats are very impressive. The efficacy was P<0.001. Responce rate, ORR, had P<.0.006. "Significant longer PFS duration than chemotherapy alone" was P<0.001. All of these are less than the P<0.05 that is the typical value required. If the Summit P3 trials are still recruiting I would expect there would be considerable effort to get enrolled if you are diagnosed with this type of CA.

I have also seen P3 trials ended early due to ethical considerations but whether or not that applies here is way beyond my pay grade as they say. Frankly, I would struggle with continuing to let the group not receiving Ivonescimab progress their treatments knowing what we know now. Safe to assume that the FDA will require a complete study and analysis. I hope it goes to market quickly which will benefit millions.
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Rayn_Makr Rayn_Makr 2 weeks ago
Lots of news regarding ASCO, an article published in JAMA (which is no small feat since it is THE JOURNAL of....), conference call Monday, 6/3/24, @ 8 am. Refer to Summit website for the folowing press release.

Ivonescimab Manuscript for HARMONi-A Clinical Trial Results Published in JAMA
Publication Entitled: Ivonescimab Plus Chemotherapy in Non–Small Cell Lung Cancer With EGFR Variant: A Randomized Clinical Trial
HARMONi-A was Featured in Oral Presentation at ASCO 2024 on May 31, 2024
Conference Call to be Held at 8:00am ET on Monday, June 3, 2024
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Termite7 Termite7 2 weeks ago
Why the HUGE gap up? ...Thanks!!!
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Rayn_Makr Rayn_Makr 2 weeks ago
If I were to hazard a guess..... Recruiting a person with FDA submissions experience since that will be the next hurdle. You know, get it right the first time and avoid timely delays, resubmissions etc.
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Rayn_Makr Rayn_Makr 2 weeks ago
This looks like a typical recruitment tool to bring a "heavy hitter" on board. Four years to vest so it keeps them around. It is a common retention tool and a nice feature to have in your employment agreement. It can turn out to be worth considerably more than your salary.
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Invest-in-America Invest-in-America 2 weeks ago
SMMT: But what about THIS (later) news today??? ----
https://finance.yahoo.com/news/summit-therapeutics-reports-inducement-grants-220000000.html
👍️0
Rayn_Makr Rayn_Makr 2 weeks ago
Shs Float 82.98M
Short Float 27.19%

Bad day to be short, eh?
Best one day gain in my life (which occurred in one hour).
Thanks Summit!
👍️0
tbonaces80 tbonaces80 2 weeks ago
Nice trade. Maybe $20 in am. If futures go
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tbonaces80 tbonaces80 2 weeks ago
Buying at 8.30
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Awl416 Awl416 2 weeks ago
Ivonescimab Monotherapy Decisively Beats Pembrolizumab Monotherapy Head-to-Head, Achieves Statistically Significant Superiority in PFS in First-Line Treatment of Patients with PD-L1 Positive NSCLC in China
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Rayn_Makr Rayn_Makr 3 weeks ago
Form 8-K Summit Therapeutics Inc. For: May 24
10K WIZARD 8:35 AM ET 5/24/2024
http://archive.fast-edgar.com/20240524/ANZ2C22CZ22SA2Z2222S22ZZHNTTVZPS7262

Filed on: May 24, 2024

"On May 23, 2024, ASCO released abstracts for presentations to take place during the Annual Meeting. Included in these abstracts, was topline data associated with HARMONi-A. Notably, patients receiving ivonescimab plus chemotherapy experienced a median progression free survival (PFS) by independent radiology review committee (IRRC) of 7.06 months (95% CI: 5.85 – 8.74) as compared to 4.80 months (95% CI: 4.21 – 5.55) for those patients receiving chemotherapy alone (hazard ratio: 0.46; 95% CI: 0.34 – 0.62).


Grade ≥3 treatment emergent adverse events (TEAEs) occurred in 61.5% patients receiving ivonescimab plus chemotherapy as compared to 49.1% patients receiving chemotherapy; the most common grade ≥3 TEAEs were chemotherapy related adverse events.


Additional data and context including, but not limited to, response rates, stable disease rates, progression free survival, overall survival, and safety is expected to be made available during ASCO’s Annual Meeting.


The abstract can be found here (Abstract 8508): https://meetings.asco.org/2024-asco-annual-meeting/15779?presentation=232409#232409"

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Monksdream Monksdream 2 months ago
SMMT under $5

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Rayn_Makr Rayn_Makr 2 months ago
At the end of Mach the insiders added a fair amount. Don't especially like the trend but the weekly chart may be forming a cup and handle. https://stockcharts.com/freecharts/gallery.html?smmt

Insider Trading Relationship Date Transaction Cost #Shares Value ($) #Shares Total SEC Form 4
Zanganeh Mahkam Chief Executive Officer Mar 27 '24 Buy 3.72 54,321 201,874 24,923,800 Mar 27 08:28 PM
Zanganeh Mahkam Chief Executive Officer Mar 27 '24 Buy 3.72 26,000 96,720 520,814 Mar 27 08:28 PM
Dhingra Ankur Chief Financial Officer Mar 26 '24 Buy 3.75 100,000 375,000 354,958 Mar 27 08:27 PM
Zanganeh Mahkam Chief Executive Officer Mar 26 '24 Buy 3.75 30,000 112,500 30,000 Mar 27 08:28 PM
👍️0
Monksdream Monksdream 3 months ago
SMMT under $5
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Rayn_Makr Rayn_Makr 4 months ago
Well the $100 million note has been pushed out until April 2025. I had a couple orders filled on the way DOWN. Rarely a good idea. Need to order a neck brace.
👍️0
Rayn_Makr Rayn_Makr 4 months ago
Is it safe to assume there will be a capital raise in the next six months or so since $100 million note is due in September 2024? Stock dilution and volatility is my concern. Trying to figure out when to add to my position. Thoughts?

Third Quarter 2023

Financial Highlights

Aggregate cash and cash equivalents, restricted cash, short-term investments, and receivables on September 30, 2023 totaled $200.5 million as compared to $654.7 million on December 31, 2022.
Our cash, cash equivalents, restricted cash, and short-term investments on September 30, 2023 was $198.9 million as compared to $648.6 million on December 31, 2022. Accounts receivable and research and development tax credits receivable on September 30, 2023 were $1.6 million as compared to $6.1 million on December 31, 2022.
Our short-term investments consist of U.S. treasury securities.
Our current notes payable balance at September 30, 2023 was $100.0 million, which is due in September 2024.
Based on our current cash and investments position, current operating plans, and with the $100.0 million notes payable due in September 2024, we have sufficient funds to operate into the second half of 2024.
Net loss for the three and nine months ended September 30, 2023 was $21.3 million and $578.4 million, respectively. Net loss for the three and nine months ended September 30, 2022 was $21.4 million and $59.6 million, respectively.
The net loss for the nine months ended September 30, 2023 includes one-time in-process research and development expenses associated with the in-licensing of ivonescimab from Akeso of $520.9 million.
Operating cash outflow for the nine months ended September 30, 2023 and 2022 was $57.3 million and $46.8 million, respectively.
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Rayn_Makr Rayn_Makr 4 months ago
I've been looking at the leadership....
https://jackwestmd.com/bio-cv/
https://finance.yahoo.com/news/laura-chow-md-cancer-immunotherapy-204100812.html
I'm impressed!
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Monksdream Monksdream 4 months ago
SMMT new 52 week high
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heisagolfer heisagolfer 4 months ago
earnings come tuesday feb 20 won't be good.... still a yr away from good profits.
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Rayn_Makr Rayn_Makr 4 months ago
At 4:49 on Valentines Day, 2/14/24, once again two large blocks traded in one minute without moving the price:
16:49:35 $4.45 694,532
16:49:35 $4.45 689,034
The total is: $6,156,868
https://www.nasdaq.com/market-activity/stocks/smmt/after-hours-trades
👍️0
Rayn_Makr Rayn_Makr 4 months ago
At 10:06 today, 2/8/24, a block of 734,483 shares trader. That's roughly 1/2 the average daily volume in one minute. Approximately $3.048,100. So three blocks totaling about $10,000,000 in the past day. Somebody is serious, eh?
Trying to get "calibrated" I looked back at the price history of Regeneron. From 2010 to 2015 it went from $25 to $500. 20x. I'd be happy with that. $60B market cap seems possible but I've been wrong before (just once). :-0
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Rayn_Makr Rayn_Makr 4 months ago
LARGE After hours volume
Nice run up today, 2/7/24, and now two big trades AH? Whats up with that?
After-Hours Volume 1,485,679
16:47:16 $4.25 762,733
16:47:16 $4.25 696,820
$6,203,100.25 in those two trades. Somebody didn't want to drive the price up would be my guess.
👍️0
Monksdream Monksdream 5 months ago
Early Barchart 100
https://www.barchart.com/stocks/performance/percent-change/advances?timeFrame=today&viewName=main&screener=overall&orderBy=percentChange&orderDir=desc
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Rayn_Makr Rayn_Makr 5 months ago
Congrats on spotting SMMT early. I saw the CEO and CFO buying 12/12 & 12/13 and jumped in the next day. The 8 January 2024 presentation is awesome as is the run up since that date. It sure looks like senior management is gifted. Any predictions on where it is in 3-5 years?
I retired from a large company with a diagnostics division so VNRX caught my eye with their low cost CA test. Around Thanksgiving 2023 directors started buying around $0.75. I got in as low as $0.65 so between SMMT and VNRX, this year is off to a "reasonably good start". Very low volume on VNRX gives me concerns though. SMMT volume looks great.
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heisagolfer heisagolfer 5 months ago
look at my june 21st post... do i need to say more?
👍️ 1
Rayn_Makr Rayn_Makr 5 months ago
The recent presentations* and updates are compelling. The testing being conducted in China provides large data sets that will empower the analysis at a statistically meaningful level. I am thrilled to see Duggan buying into this on a large scale. He has a history of successful investing and leadership.

I also came across Volition, ticker VNRX. I cannot help but imagine an annual cancer diagnostic screen with positive results being treated with Ivonescimab in stage 1 or stage 2. I have a substantial amount invested in both SMMT and VNRX. So far both are Green.

*https://www.smmttx.com/investor-information/summit-presentations/
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heisagolfer heisagolfer 6 months ago
Iovance is having problems with their lung cancer drug, it should help out SMMT be more valuable. ... https://www.marketwatch.com/articles/iovance-stock-fda-lung-cancer-study-58e7e994?mod=mw_latestnews
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heisagolfer heisagolfer 6 months ago
CFO bought more stock on dec 13... Form 4 - Statement of changes in beneficial ownership of.. clic on news and scroll down to see the form 4
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heisagolfer heisagolfer 6 months ago
CFO bought more stock on dec 13... Form 4 - Statement of changes in beneficial ownership of.. clic on news and scroll down to see the form 4
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heisagolfer heisagolfer 8 months ago
the head man buying millions of dollars of stock per the disclosure... im in
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heisagolfer heisagolfer 12 months ago
as i said a few weeks ago under 2 bucks is cheap for a company that is in good shape for fda approval for lung cancer.. next stop 5 bucks.. don't miss the boat.
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heisagolfer heisagolfer 1 year ago
under 2 bucks a share is cheap for a company close to having meds for lung cancer. once fda approval you will see a rocket ship. don't miss out. GLTA
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heisagolfer heisagolfer 1 year ago
Promising Data for Investigational Innovative Bispecific Ivonescimab Featured at ASCO 2023
June 04 2023 - 08:00AM
Business Wire
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heisagolfer heisagolfer 1 year ago
as it closer gets to fda approval the stock will continue to advance, don't miss the boat
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heisagolfer heisagolfer 1 year ago
new press release...http://www.businesswire.com/news/home/20230601005388/en/Ivonescimab-Updated-Data-to-be-Featured-at-ASCO-2023
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Klinsmann Klinsmann 1 year ago
OK, little lie from my side. Sold on 1.90 support break, but back in today. This stock gonna be a very nice long term hold - imo
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heisagolfer heisagolfer 1 year ago
good time to buy on the dips before it gets closer to FDA approval. then watch out!!!!
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NRS NRS 1 year ago
Mr. Robert Duggan, CEO of SMMT, also has an investment company, appropriately named "Duggan Investments". Here's some copy from its website: "Duggan Investments is a hands-on, active investment company, headed by Robert Duggan, who has many decades of success and experience.
An example: Under Bob’s guidance, Pharmacyclics' stock price increased from $0.57 a share in Feb 2009, to $261.25 a share in May 2015. Pharmacyclics and its "miracle drug" IMBRUVICA® were acquired by AbbVie for $21 billion in May 2015. As of today, IMBRUVICA® continues its dramatic growth and success, with use in widening indications."
Here's a link to the site: https://dugganinvestments.com/
Duggan is THE major shareholder in SMMT. He is also the major share holder in another medical research company, "Pulse Biosciences Inc" symbol PLSE. You might find its stock chart interesting. Cheers, NRS
👍️ 1
Klinsmann Klinsmann 1 year ago
Major support around 1.90 held well. That was critical early today...
But this is a great stock in the making - imo
Won´t sell under 10$!
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heisagolfer heisagolfer 1 year ago
earnings were not a surprise but it was expected. the closer we get to fda approval the more the stock will advance, you will see profit taking along the way. some could clearly trade in and out on this but just don't miss the major leg up. good luck
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Klinsmann Klinsmann 1 year ago
Bought in the 1.40´s and won´t sell anytime soon. Mark this post. This stock is a lifechanger imo
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BEIJING BILL BEIJING BILL 1 year ago
Earning tomoroe morning ... many p3 trials ongoing ... expect an update on it.

Ceo bought 500k of stock few months back as did COO

the kompamy is.flushed with cash ..

500milion worth...


Its vill be a good one
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BEIJING BILL BEIJING BILL 1 year ago
Thisnis redy to activate tomorow and thursday.

Bonzaii skippyies
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heisagolfer heisagolfer 1 year ago
loved the profit taking today, i was able to grab somemore. this is going to go much much higher. people we are talking about lung cancer .... do you know the numbers that have lung cancer, its huge! i have been in the market for over 50 years. this might be the most excited i have been about a stock. good luck.
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NRS NRS 1 year ago
Yes, I think so too. Been in (again) since last week with no complaints. Now if we could just coax some whale to do a 300k share market buy in the next few minutes... And don't think it couldn't happen-- they're out there!
👍️0

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