Cantor Fitzgerald reiterates Overweight on Summit Therapeutics stock

Summit Therapeutics (SMMT) is advancing Ivonescimab, a PD-1/VEGF bispecific antibody. The FDA decision is expected in November 2026, with Phase 3 data anticipated in the second half of 2026. This period is crucial for the company's clinical development.

Summit Therapeutics (SMMT) reported updated Phase III HARMONi data for ivonescimab, showing consistent overall survival results across Asian and Western patients. The data supports its U.S. BLA review, with a PDUFA date of November 14, 2026. Analysts project revenue of $1.3B and earnings of $223.0M by 2029, starting from zero revenue and a loss of $856.1M today.

Summit Therapeutics (SMMT) reported a 27% reduction in death risk for its drug ivonescimab in a lung cancer trial, compared to Merck’s Keytruda. The company has a high P/S ratio (~370x) and a GF Score of 30/100, indicating financial challenges. Insiders have bought $114.6M in shares over 12 months, signaling confidence.

Summit Therapeutics (SMMT) presented updated Phase III data on ivonescimab at a lung cancer conference, showing positive trends. The stock has gained 43.60% over 30 days and 29.82% over 90 days, but is still down 5.51% over one year. Analysts estimate a fair value of $29.21, significantly higher than the current price of $17.85, based on the drug's potential. However, the company's valuation is debated, with some viewing it as expensive on a price-to-book basis.

Summit Therapeutics Inc. (SMMT) filed an SEC Form 8-K — Other Events. Updated HARMONi Data Presented at WCLC 2026 Demonstrate Consistent Overall Survival Results with Ivonescimab Plus Chemotherapy in Western and Asian Patients Sustained OS Improvement Seen with Longer Follow-Up in Western Patients, Consistent across Geographic Regions; No New Safet

Summit Therapeutics Inc. (SMMT) filed an SEC Form 8-K — Other Events. 1 Ivonescimab Monotherapy Demonstrates a Statistically Significant & Clinically Meaningful Benefit Compared to Pembrolizumab Monotherapy in PD-L1-Positive Advanced NSCLC in Akeso’s HARMONi-2 Study Conducted in China Ivonescimab Reduced the Risk of Death by 27% Compared to Pembrol