Summit Therapeutics Inc. (NASDAQ:SMMT) is one of the 10 best large cap stocks under $30 with highest upside potential.
On May 31, Summit Therapeutics Inc. (NASDAQ:SMMT) presented new clinical data from the international Phase II AK112-206 trial during the American Society of Clinical Oncology
Co-sponsored alongside Akeso, this multisite study evaluates the potential first-in-class bispecific antibody named ivonescimab, for patients battling first-line metastatic colorectal cancer. Tonhom1009/ According to the study, treatment-naive patients in the U.S. and China receiving this novel therapeutic in combination with standard mFOLFOX6 chemotherapy showed a strong objective response rate of 70.8%. When compared to the previous performance of standard-of-care regimens that mix bevacizumab with traditional FOLFOX chemotherapy, it is seen that these clinical outcomes are quite promising.
On May 1, the price target on Summit Therapeutics Inc. (NASDAQ:SMMT) was cut from $17 to $16 by Piper Sandler. The firm retained a Neutral rating on the stock. According to the company’s first-quarter earnings report, the projected quarter two preliminary PFS analysis was completed and approved by the IDMC, which suggested that the research should proceed as scheduled.