Why Summit Therapeutics Plunged Today
Summit Therapeutics (SMMT) The Motley Fool·2025-05-30 18:19Shares of Summit Therapeutics (SMMT -28.35%) have plunged 31% as of 1:23 p.m. ET Friday, following the release of some trial data this morning.Summit has been a tremendous winner over the past year, as its bispecific antibody lung cancer drug ivonescimab outperformed prior standards of care in phase 3 trials performed in China by Summit's partner Akeso (AKES.F -4.96%).While today's results weren't all bad by any means, apparently investors had hoped for more conclusive information about survival rates. With ...