Summit Therapeutics (SMMT) Stock Overview
A biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 2/6 |
| Past Performance | 0/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
SMMT Community Fair Values
Create NarrativeSee what 44 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Summit Therapeutics Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$17.72 |
| 52 Week High | US$29.23 |
| 52 Week Low | US$12.07 |
| Beta | -1.24 |
| 1 Month Change | 38.22% |
| 3 Month Change | 28.87% |
| 1 Year Change | -7.85% |
| 3 Year Change | 868.31% |
| 5 Year Change | 229.37% |
| Change since IPO | 72.21% |
Recent News & Updates
Seeking Alpha • 9h
Summit Therapeutics: It's Okay Not To Have An Answer
Summary Summit Therapeutics is rated Hold at $17.50 due to high uncertainty and insufficient conviction to take a position. Ivonescimab's clinical evidence is promising but nuanced, with key data limitations and regulatory outcomes difficult to predict. Shareholder economics are clouded by licensing royalties, milestone payments, substantial financing needs, and significant dilution risk. Waiting for catalysts may eliminate investable opportunity, but acting now is not rational given valuation sensitivities and information gaps. Read the full article on Seeking Alpha
Narrative Update • Sep 09
SMMT: Upcoming HARMONi-3 PFS Readout Will Drive Repricing Potential
Summit Therapeutics begins this Narrative Update with a higher implied fair value of about $29 per share, supported by analysts who have lifted price targets into a range from $11.90 to $38 as they factor in updated expectations around HARMONi-3 progression free survival data timing and risk. Analyst Commentary Recent Street research on Summit Therapeutics highlights a mix of optimism around upcoming HARMONi-3 data and caution around trial timing, overall survival readouts and execution risk.Recent updates
Seeking Alpha • 9h
Summit Therapeutics: It's Okay Not To Have An Answer
Summary Summit Therapeutics is rated Hold at $17.50 due to high uncertainty and insufficient conviction to take a position. Ivonescimab's clinical evidence is promising but nuanced, with key data limitations and regulatory outcomes difficult to predict. Shareholder economics are clouded by licensing royalties, milestone payments, substantial financing needs, and significant dilution risk. Waiting for catalysts may eliminate investable opportunity, but acting now is not rational given valuation sensitivities and information gaps. Read the full article on Seeking AlphaNarrative Update • Sep 09
SMMT: Upcoming HARMONi-3 PFS Readout Will Drive Repricing Potential
Summit Therapeutics begins this Narrative Update with a higher implied fair value of about $29 per share, supported by analysts who have lifted price targets into a range from $11.90 to $38 as they factor in updated expectations around HARMONi-3 progression free survival data timing and risk. Analyst Commentary Recent Street research on Summit Therapeutics highlights a mix of optimism around upcoming HARMONi-3 data and caution around trial timing, overall survival readouts and execution risk.
Narrative Update • Aug 25
SMMT: Extended Survival Timelines And Dilution Risk Will Likely Pressure Shares
Analysts lifted their price target for Summit Therapeutics to $11.08 from $9.89, citing Street research that now sees current pricing as better aligned with the risk adjusted outlook for Ivonescimab and the extended timelines around key HARMONi-3 survival readouts. Analyst Commentary Recent Street research on Summit Therapeutics points to a more balanced stance, with several firms moving to neutral ratings and adjusting price targets to reflect updated views on Ivonescimab and the HARMONi-3 development timelines.
Narrative Update • Aug 07
SMMT: HARMONi Survival Readouts And FDA Decision Will Drive Future Repricing
Analysts have reduced their price targets on Summit Therapeutics, trimming the modeled fair value by about $3.20 to $41.04 as they factor in timing uncertainties around key HARMONi trial survival readouts, slower event rates, and mixed views on the strength of upcoming Phase 3 catalysts. Analyst Commentary Recent Street research on Summit Therapeutics highlights a wide range of views on trial timing, risk and potential reward.Narrative Update • Jul 24
SMMT: Phase 3 Trial Uncertainty Will Likely Pressure Shares Ahead
Summit Therapeutics' analyst price target has been revised lower to $9.89 from $11.76 as analysts factor in new Underperform coverage, reduced targets from existing firms, and concerns about trial read-outs and the current catalyst setup. Analyst Commentary Recent Street research on Summit Therapeutics points to a more cautious stance, with several bearish analysts questioning the current setup for upcoming trial read-outs and the company’s lack of commercial-stage assets.Narrative Update • Jul 10
SMMT: ASCO Plenary Data Will Drive Future Repricing Versus Skeptical Street Views
Summit Therapeutics' updated analyst price target of $44.24, supported by a higher assumed fair value but tempered by more cautious views on profit margins, revenue growth potential and a richer future P/E of about 137x, reflects a shift toward greater skepticism around upcoming trial readouts and the timing of key data updates. Analyst Commentary Recent Street research around Summit Therapeutics highlights a divided backdrop, with some analysts flagging clinical and funding risks while others point to potential upside from upcoming data and conference exposure.Narrative Update • Jun 26
SMMT: Phase 3 Trial Outcomes Will Drive Future Repricing Potential
Analysts have trimmed their price expectations for Summit Therapeutics, with the updated fair value estimate moving from about $29.18 to $28.36. This reflects caution around trial read-outs and mixed recent research views on the stock.New Narrative • Apr 02
Broad Late‑Stage Immuno Oncology Pipeline Will Drive Long Term Opportunity
Catalysts About Summit Therapeutics Summit Therapeutics is a biopharmaceutical company focused on developing ivonescimab for the treatment of multiple solid tumor cancers. What are the underlying business or industry changes driving this perspective?New Narrative • Mar 19
Future Clinical Setbacks In Phase III Programs Will Threaten Long Term Oncology Ambitions
Catalysts About Summit Therapeutics Summit Therapeutics is a biopharmaceutical company focused on developing and commercializing ivonescimab for cancer patients across multiple solid tumor indications. What are the underlying business or industry changes driving this perspective?New Narrative • Mar 05
Late Stage Oncology Footprint Will Transform This Single Asset Into A Global Cancer Franchise
Catalysts About Summit Therapeutics Summit Therapeutics is a biopharmaceutical company focused on developing and commercializing ivonescimab for solid tumor cancers. What are the underlying business or industry changes driving this perspective?Seeking Alpha • Apr 26
Summit Therapeutics: New Ivonescimab Data Raise Concerns
Summary Summit Therapeutics' share price plunged 36% after Akeso's ivonescimab data showed no statistically significant overall survival benefit versus Merck's Keytruda in the HARMONi-2 trial. Ivonescimab showed a 22% reduction in the risk of death versus Keytruda, but statistical significance was not reached after an interim analysis at 39% data maturity. Prior progression-free survival data and positive overall survival trends still point to a positive outcome in the HARMONi-2 trial. However, substantial doubts over ivonescimab and its potential benefits remain. Key upcoming catalysts include HARMONi trial results in mid-2025, additional overall survival data from HARMONi-2, and HARMONi-6 trial results from Akeso later this year. Read the full article on Seeking AlphaSeeking Alpha • Apr 12
Summit Therapeutics: Not Pharmacyclics, Not Yet
Summary Summit Therapeutics' ivonescimab shows promise but faces significant risks; HARMONi-2 results are promising but not definitive, with key questions about overall survival and applicability outside China. The CEO's recent stock moves signal confidence, but SMMT's current valuation appears overly optimistic given the uncertainties and lack of mature data. Multiple ongoing trials for ivonescimab in various cancers could provide future opportunities, but current hype may not justify the high market cap. My sentiment remains a "Sell" here due to downside risk if there is any marginal or negative data readout, either from SMMT, their partner, or any other PD1/VEGF developer. Read the full article on Seeking AlphaSeeking Alpha • Mar 28
Summit Therapeutics: Major Upcoming Ivonescimab Data Catalyst May Not Be All It Seems (Rating Downgrade)
Summary Summit Therapeutics' ivonescimab has shown superior efficacy to ~$30bn per annum selling Keytruda in Phase 3 lung cancer trials, albeit only in Chinese patients. Summit's task is to secure approval for ivonescimab in Western markets - hence its upcoming HARMONi Phase 3 study data readout is crucial as it includes Western patients. Positive results could open up the path to a quick approval, and significantly boost Summit's valuation, while negative results could severely impact it. Seemingly, most of the patients in the HARMONi study are Chinese patients, who already showed strong results in the HARMONi-A study. Summit may be attempting to circumvent FDA rules preventing overseas studies being used in approval submissions, by adding a few Western patients to an already successful study. I have my doubts that this strategy can work. Read the full article on Seeking AlphaSeeking Alpha • Feb 24
Summit Therapeutics: Mid-2025 NSCLC Data Could Further Entrench Ivonescimab Program
Summary Summit Therapeutics Inc. established a clinical trial collaboration agreement with Pfizer to develop ivonescimab together with vedotin ADCs to target patients with NSCLC and other various types of solid tumors. Top-line data from the phase 3 HARMONi study, using ivonescimab +chemotherapy to target 2nd-line EGFR-mutant NSCLC patients, expected in mid-2025. The global non-small cell lung cancer market size is projected to reach $36.9 billion by 2031. Ivonescimab + chemotherapy has already been approved in China to treat 2nd-line EGFR-mutant locally advanced or metastatic non-squamous NSCLC patients who progressed on EGFR-TKI drug. Read the full article on Seeking AlphaSeeking Alpha • Jan 18
Summit Therapeutics: Data Signals A Potential Paradigm Shift In NSCLC (Rating Upgrade)
Summary Summit Therapeutics' stock rose 888% since September 2023, driven by positive Phase 3 data for ivonescimab showing superior PFS vs Keytruda in NSCLC. Phase 3 HARMONi-2 trial showed 11.14 vs 5.82 months PFS benefit over Keytruda, with OS data expected in first half of 2025. Company has strong cash position ($486.9M) but faces increased burn rate with multiple Phase 3 trials ongoing. My NPV model suggests $20.5B-$29B value potential, assuming 50-60% market penetration and 2027 launch. Major risks include OS data outcomes, geographic translation of results, and complete dependence on single asset success. Read the full article on Seeking AlphaSeeking Alpha • Jan 05
The Play On Summit Therapeutics
Summary Summit Therapeutics' stock has pulled back over 40% from its all-time high due to concerns over ivonescimab's Chinese trial not being an apples-to-apples comparison. Ivonescimab, a bispecific antibody, has shown promising results in China, outperforming Merck's Keytruda in a Phase 3 trial, but faces scrutiny over trial design differences. Summit's financial health is bolstered by significant investments and private placements, providing a decent operating runway with ongoing and planned NSCLC trials. An analysis around Summit Therapeutics and how I am placing a trade on this stock is highlighted in the paragraphs below. Read the full article on Seeking AlphaSeeking Alpha • Dec 02
Summit Therapeutics Stock Set To Soar By Mid-2025 On HARMONi Phase 3 Trial
Summary Summit Therapeutics reached a milestone in its Phase III trial for ivonescimab, aiming to treat second-line EGFR mutated advanced NSCLC. The FDA has fast tracked the HARMONi trial. Positive Phase III results for ivonescimab versus KEYTRUDA in first-line NSCLC are promising, but registration in the US will require completion of HARMONI-7, which has just begun recruiting. Top-line data from the HARMONi trial is expected in mid-2025, potentially leading to FDA approval with complete enrollment as of Q3. SMMT stock remains a strong buy, with excellent execution led by CEO Bob Duggan. Read the full article on Seeking AlphaSeeking Alpha • Oct 04
Summit Therapeutics: Cancer Drug With Great Potential On 'Fast Track' To US Market
Summary Summit Therapeutics Inc. may have the successor to Merck's >$25bn selling keytruda in its pipeline. Partner Akeso's data from China clinical studies shows outperformance against Merck's standard of care in NSCLC. This is no small feat — repeat this performance in US studies and Summit will have a “mega-blockbuster” on its hands/. After sensational share price gains in September, the market is more circumspect. It may be time to watch on and see how Summit's plans for US approval develop. Read the full article on Seeking AlphaSeeking Alpha • Sep 19
Summit Therapeutics Bests Merck's Top Selling Drug In Phase III Trial
Summary Summit Therapeutics' ivonescimab shows improved efficacy over Merck's Keytruda in Phase III trials, targeting both PD-1 and VEGF, potentially expanding the PD-1 inhibitor market. Despite risks, Summit's promising data and significant insider investment suggest a speculative buy, with potential for major upside if FDA approval is achieved. Ivonescimab's dual mechanism could disrupt the oncology market, similar to Regeneron's Eylea, positioning Summit for substantial growth if it captures market share. With sufficient funding to complete trials and strong insider confidence, Summit is well-positioned for future success, making it a speculative buy on pullbacks. Read the full article on Seeking AlphaSeeking Alpha • Sep 09
Summit Therapeutics: World Lung Data Not Enough For Ivonescimab To Unseat Keytruda (Yet)
Summary Summit Therapeutics' ivonescimab shows a significant PFS improvement over pembrolizumab in NSCLC, but regulatory and clinical hurdles remain before it can challenge the current standard of care. HARMONi-2 trial results are promising, but ivonescimab faces approval challenges in the US due to reliance on China-only trials and lack of overall survival data. SMMT's financial stability is precarious, with a cash runway of 5-6 quarters (maybe time enough to get to a phase 3 readout in their US trial). Given the high market cap and current uncertainties, it's prudent to wait for more concrete evidence of ivonescimab's superiority before investing heavily in SMMT stock. Read the full article on Seeking AlphaSeeking Alpha • Aug 03
Summit Therapeutics May Have Further Upside From Here
Summary Summit Therapeutics to release second-quarter earnings and operational update on 6 August. Analysts are bullish on Phase 3 trial results for Ivonescimab in September, with a potential de-risking of the drug's profile. The company boosted its balance sheet with a $200 million institutional capital raise and expanded licensing territories after positive Phase I and II trial results. Read the full article on Seeking AlphaSeeking Alpha • May 31
Summit Therapeutics Stock: Plunging Despite A Win?
Summary Summit Therapeutics has achieved massive market success in 2024, with a market capitalization of over $7 billion. Summit's main pipeline candidate is ivonescimab, a bispecific antibody targeting both PD-1 and VEGF. Ivonescimab has shown "decisive" progression-free survival benefit compared to Keytruda in patients with NSCLC that is PD-L1 positive. The massive valuation of SMMT means they have too much proving to do to make this a sound investment at these levels, in my opinion. Read the full article on Seeking AlphaSeeking Alpha • May 06
Summit Therapeutics' Ivonescimab: Strong Buy Its Dual-Action Approach To Cancer
Summary Summit Therapeutics specializes in developing innovative therapeutic solutions for oncology and infectious diseases. Their flagship drug candidate, Ivonescimab, is in phase 3 clinical trials and shows promise in treating non-small cell lung cancer. The company's Ivonescimab, a bispecific antibody, is supported by a partnership with Akeso. Ivonescimab targets PD-1 and VEGF pathways, potentially treating NSCLC and other cancers. Summit’s promising clinical trials, HARMONi and HARMONi-3, focus on advanced lung cancers and aim for FDA approval. SMMT is a strong buy because of ivonescimab’s potential in oncology and the company’s proven leadership under Robert Duggan. Read the full article on Seeking AlphaSeeking Alpha • Jan 30
Summit Therapeutics: A Strategic Analysis Of Ivonescimab's Progress
Summary Summit's financial position is stable with adequate funds to support operations until H2 2024, despite a significant drop in cash reserves. Ivonescimab, SMMT's dual-acting compound targeting PD-1 and VEGF, shows promise in the field of oncology, particularly in non-small cell lung cancer. The success of Ivonescimab in Phase III trials is crucial for Summit's future, and investors will closely monitor clinical data and market positioning. Read the full article on Seeking AlphaShareholder Returns
| SMMT | US Biotechs | US Market | |
|---|---|---|---|
| 7D | 4.2% | -2.1% | -1.1% |
| 1Y | -7.9% | 36.5% | 11.7% |
Return vs Industry: SMMT underperformed the US Biotechs industry which returned 36.5% over the past year.
Return vs Market: SMMT underperformed the US Market which returned 11.7% over the past year.
Price Volatility
| SMMT volatility | |
|---|---|
| SMMT Average Weekly Movement | 9.7% |
| Biotechs Industry Average Movement | 9.5% |
| Market Average Movement | 6.9% |
| 10% most volatile stocks in US Market | 15.2% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: SMMT has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: SMMT's weekly volatility (10%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2003 | 265 | Bob Duggan | www.smmttx.com |
Summit Therapeutics Inc., a biopharmaceutical company, focuses on discovery, development, and commercialization of patient, physician, caregiver, and societal friendly medicinal therapies. Its lead development candidate is ivonescimab, a bispecific antibody for immunotherapy through blockade of PD-1 with the anti-angiogenesis for the treatment of non-small lung cancer (NSCLC) and colorectal cancer (CRC). The company has also combined ivonescimab with chemotherapy, which is in phase III clinical trial for the patients with epidermal growth factor receptor, mutated, and locally advanced or metastatic non-squamous NSCLC; first-line metastatic NSCLC; and first-line unresectable metastatic CRC.
Summit Therapeutics Inc. Fundamentals Summary
| SMMT fundamental statistics | |
|---|---|
| Market cap | US$13.80b |
| Earnings (TTM) | -US$856.09m |
| Revenue (TTM) | n/a |
0.0x
P/S Ratio-16.5x
P/E RatioIs SMMT overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| SMMT income statement (TTM) | |
|---|---|
| Revenue | US$0 |
| Cost of Revenue | US$0 |
| Gross Profit | US$0 |
| Other Expenses | US$856.09m |
| Earnings | -US$856.09m |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -1.07 |
| Gross Margin | 0.00% |
| Net Profit Margin | 0.00% |
| Debt/Equity Ratio | 0% |
How did SMMT perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/17 22:41 |
| End of Day Share Price | 2026/09/17 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Summit Therapeutics Inc. is covered by 29 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Etzer Darout | Barclays |
| "Etzer Darout | Barclays |
| Jeffrey Walch | Bernstein |