This Unstoppable Biotech Stock Just Became an Even Better Buy
Last year, Summit Therapeutics (NASDAQ: SMMT) was one of the stars of the biotech industry. The company's shares soared following a significant clinical win. Summit's market capitalization of $15.3 billion is exceedingly rare among clinical-stage drugmakers, signaling the market's positive feelings toward this rising company.Now, Summit has recently made a move that could pay even more significant dividends down the road and improve its prospects. Read on to find out more.Summit Therapeutics' leading candidate, ivonescimab, is an investigational cancer treatment licensed from China-based Akeso Biopharma. Summit owns the rights to develop and market ivonescimab in North America, Latin America, Europe, Africa, Japan, the Middle East, and the Caribbean. Last year, Summit's shares caught fire after ivonescimab performed better than Keytruda, an oncology market leader, in a phase 3 clinical trial in patients with non-small cell lung cancer and a PD-L1 protein overexpression.Continue reading
Last year, Summit Therapeutics (NASDAQ: SMMT) was one of the stars of the biotech industry. The company's shares soared following a significant clinical win. Summit's market capitalization of $15.3 billion is exceedingly rare among clinical-stage drugmakers, signaling the market's positive feelings toward this rising company.
Now, Summit has recently made a move that could pay even more significant dividends down the road and improve its prospects. Read on to find out more.
Summit Therapeutics' leading candidate, ivonescimab, is an investigational cancer treatment licensed from China-based Akeso Biopharma. Summit owns the rights to develop and market ivonescimab in North America, Latin America, Europe, Africa, Japan, the Middle East, and the Caribbean. Last year, Summit's shares caught fire after ivonescimab performed better than Keytruda, an oncology market leader, in a phase 3 clinical trial in patients with non-small cell lung cancer and a PD-L1 protein overexpression.
