$SMMT

Moderna and Merck shares surged after positive Phase 3 trial results for an mRNA cancer vaccine, boosting other biotech and oncology stocks. BioNTech and Novavax also rose, while Bristol-Myers Squibb and Regeneron gained. Barclays estimates the combo could generate $3B in melanoma revenue by 2035, potentially impacting competitors.

Arcus Biosciences (NYSE:RCUS) and Summit Therapeutics (NASDAQ:SMMT) announced a clinical trial collaboration combining Arcus’s casdatifan (HIF-2α inhibitor) with Summit’s ivonescimab (PD-1/VEGF bispecific) for clear cell renal cell carcinoma, including first-line metastatic disease. Summit supplies ivonescimab; Arcus runs the ARC-20 cohort. Initial data expected mid-2027. RCUS reported Q2 2026 revenue of $41M and net loss of $91M, with $775M cash.

U.S. stock index futures rose early Monday, with Nasdaq futures up 0.5% and S&P 500 futures up 0.3% at 4:00 a.m. ET. The article highlights company catalysts including Nvidia’s RTX Spark and expanded TSM partnership, Dell’s new XPS laptops and a Bernstein price target to $500, and upcoming earnings for HPE. It also cites tighter U.S. chip export licensing for NVDA and AMD AI chips to certain China-linked entities.

Simply Wall St says Summit Therapeutics started the HARMONi-GU1 Phase II/III trial of ivonescimab plus enfortumab vedotin versus pembrolizumab plus enfortumab vedotin in first-line locally advanced or metastatic urothelial (bladder) cancer. The update broadens ivonescimab’s tumor scope alongside an FDA review for EGFR-mutant NSCLC with a Nov 14, 2026 PDUFA date. The article cites 2029 revenue of $897.3M and earnings of $169.7M.

H.C. Wainwright reiterated a Neutral rating on Summit Therapeutics plc (NASDAQ:SMMT) without a price target. The stock trades around $13.53, down 53% YoY. The firm cited Merck’s KEYTRUDA strategy and said Summit’s HARMONi-3 trial must show ivonescimab differentiation. Summit is running a Phase 2/3 trial in urothelial cancer.

U.S. stock index futures fell early Wednesday ahead of May CPI and Oracle’s fiscal Q4 earnings. Nasdaq futures were down 0.6% and S&P 500 futures down 0.4% at 4:00 a.m. ET. SMCI dropped about 10% after announcing a $7 billion financing package. TSM fell about 2% after reporting a 30% YoY May sales rise. Other movers included CRWV, LLY, HOOD, SBUX, and YYGH.

Carvana reported Q2 revenue of $7.38B, above $6.91B estimates, and EPS of 42 cents vs 36 cents, according to Benzinga Pro. Jim Cramer highlighted Summit Therapeutics as a “great spec” after it reported a smaller-than-expected Q2 loss but said it lacks working capital for 12 months. He also discussed Forgent Power, NVE, and Reddit.

Summit Therapeutics said in its Q2 SEC filing it has about $690M in cash, equivalents and short-term investments, which it says is insufficient to fund planned operations for at least one year. In H1 it reported losses over $405M and R&D spending around $290M. The FDA decision on ivonescimab for EGFR-mutant advanced NSCLC is expected on or before Nov. 14.

Summit Therapeutics Inc. (SMMT) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-1.1 2 d143170dex11.htm EX-1.1 EX-1.1 Exhibit 1.1 DISTRIBUTION AGREEMENT July 23, 2026 J.P. Morgan Securities LLC 270 Park Avenue New York, New York 10017 Ladies and Gentlemen: Summit Therapeutics Inc., a Delaware corporation (the “ Company ”), confirms its agreement with J.P.

Summit Therapeutics Inc. (SMMT) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 a2026_prx0723xq22026earn.htm EX-99.1 a2026_prx0723xq22026earn Summit Therapeutics Reports Financial Results and Operational Progress for the Second Quarter and Six Months Ended June 30, 2026 Consistent Overall Survival Observed in Western, Asian Patients in Updated Anal