Summit Therapeutics Inc. - Common Stock (SMMT)

Western results for ivonescimab aren't lining up with the huge survival benefit measured in China.

Summit Therapeutics stock crashed Monday after the company's drug failed to meet the bar for overall survival in lung cancer.

The US market is yet to commence its session on Monday, but let's get a preview of the pre-market session and explore the top gainers and losers driving the early market movements.

Summit's ivonescimab showed improved survival trends in NSCLC patients with favorable safety, though some results missed statistical significance thresholds.

The price target of $40 represents an upside of 70% from the stock’s closing price on Wednesday.

Marvell, Hormel, and Keurig Dr Pepper led weekly large-cap losers on weak guidance and analyst downgrades.

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The global economy is sailing into Q3 2025 with a blend of cautious optimism and persistent challenges. While a new tariff regime and elevated geopolitical tensions introduce elements of uncertainty, the underlying currents suggest continued, albeit slower, economic expansion, particularly within the United States. Investors are keenly watching the interplay

Summit and Akeso report ivonescimab's survival benefit in lung cancer, boosting approval odds and positioning it as a Keytruda challenger.

Analysts at Bernstein called the survival data “a positive surprise,” framing it as Akeso’s biggest catalyst since the drug previously outperformed Merck’s top-selling cancer therapy.

BeOne Medicines will sell global Imdelltra royalties to Royalty Pharma for up to $950 million while retaining rights to other oncology programs with Amgen.

Only one of these growth stocks is up big so far in 2025. But all three could be huge winners over the next few years.