Ivonescimab

Viking Therapeutics and Summit Therapeutics are promising biotechs with significant market potential. Viking is advancing its obesity treatment, VK2735, with phase 3 trials, while Summit aims to commercialize its NSCLC treatment, ivonescimab. Both companies have substantial cash reserves and strategic pipelines. Investing in Viking may offer greater returns due to the larger obesity drug market, though it is riskier without a collaborator like Summit's Akesobio.

Bob Duggan's experimental cancer drug, ivonescimab, outperformed Keytruda in trials, boosting Summit Therapeutics' stock 700% and his net worth to $16 billion. The drug, now in 18 cancer trials, halved disease progression risk in advanced non-small-cell lung cancer patients.

Summit Therapeutics' stock has surged 1,000% on potential to rival Merck's Keytruda, but its market cap of $16 billion may be overvalued. CEO's recent stock purchase signals optimism, yet ivonescimab's success is uncertain and years away.

Summit Therapeutics' stock surged after FDA granted Fast Track designation to its lung cancer drug. The company completed enrollment for a Phase 3 trial of ivonescimab, involving patients across North America, Europe, and China. Positive results from a previous trial led to a stock surge last month, though shares have since retreated.

H.C. Wainwright maintains Buy rating and $45 price target for Summit Therapeutics, following completion of Phase 3 HARMONi trial enrollment for ivonescimab in lung cancer treatment. FDA Fast Track designation for ivonescimab could expedite review. Analysts anticipate significant milestone from trial results, with potential to impact NSCLC treatment. Citi downgrades to Neutral but raises price target to $23, while Stifel raises to $40 with Buy rating. Summit's stock performance reflects positive outlook, despite current unprofitability.

Summit Therapeutics completes enrolment in Phase III HARMONi trial of ivonescimab plus platinum-doublet chemotherapy for EGFRm, locally advanced or metastatic non-squamous NSCLC, with topline data expected in mid-2025. The FDA granted fast track designation to ivonescimab for this patient population.

Summit Therapeutics completes enrollment in HARMONi Phase III trial evaluating ivonescimab for EGFR-mutated NSCLC, with topline data expected in mid-2025. The FDA grants Fast Track designation for ivonescimab in combination with platinum-based chemotherapy for this patient population.