Summit Therapeutics ( (SMMT) ) has issued an update.
Summit Therapeutics reported its 2024 fourth-quarter financial results, highlighting advances in its clinical trials for ivonescimab, including a collaboration with Pfizer to explore novel treatments in solid tumor settings. The company also announced the completion of enrollment for its HARMONi trial and received Fast Track designation from the FDA, positioning itself as a key player in innovative oncology treatments. Financially, Summit recorded a significant decrease in operating expenses primarily due to reduced R&D costs, although it saw an increase in R&D spending linked to expanded clinical trials.
More about Summit Therapeutics
Summit Therapeutics Inc. operates in the biotechnology industry, focusing on the development and commercialization of investigational therapies. Its primary product is ivonescimab, a potentially first-in-class bispecific antibody, targeting non-small cell lung cancer (NSCLC) and other solid tumors. The company collaborates with Akeso Inc. for global development rights, excluding China, and has recently initiated a partnership with Pfizer for clinical trials involving unique solid tumor settings.
YTD Price Performance: 20.54%
Average Trading Volume: 2,234,025
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $16.31B
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