Welcome to our dedicated page for Summit Therapeutics news (Ticker: SMMT), a resource for investors and traders seeking the latest updates and insights on Summit Therapeutics stock.
Summit Therapeutics Inc (NASDAQ: SMMT) delivers innovative therapies for high-need medical conditions through focused research in genetic disorders and infectious diseases. This dedicated news hub provides investors and industry observers with essential updates on clinical progress, regulatory milestones, and strategic collaborations.
Access real-time announcements covering trial results for candidates like ridinilazole, partnership developments with leading institutions, and financial disclosures. Our curated feed serves as a reliable resource for tracking SMMT's advancements in Duchenne muscular dystrophy research and antibiotic innovation.
Key updates include FDA communications, licensing agreements, peer-reviewed study publications, and progress reports from collaborative initiatives with organizations like MD Anderson Cancer Center. All content is verified for accuracy and presented in compliance-conscious formatting.
Bookmark this page for streamlined access to Summit Therapeutics' official communications. Check regularly for developments impacting the company's position in precision antibiotic development and rare disease therapeutics.
Summit Therapeutics (NASDAQ: SMMT) has appointed Robert LaCaze as Chief Commercial Officer, reporting to Manmeet S. Soni, Chief Operating Officer and Chief Financial Officer. LaCaze brings over 35 years of biopharmaceutical executive leadership experience, particularly in oncology.
LaCaze previously served as Executive Vice President and Head of Oncology Strategic Business Unit at Bayer Healthcare, and Senior Vice President at Bristol-Myers Squibb leading their immuno-oncology franchise. Most recently, he was CEO and President of Mnemo Therapeutics.
His expertise spans biologics, cell therapies, radiopharmaceuticals, and diagnostics, with a track record of launching multi-billion-dollar products. LaCaze will be instrumental in Summit's commercial strategy for ivonescimab, their novel cancer product candidate.
Summit Therapeutics (NASDAQ: SMMT) has announced the granting of inducement stock options to 12 new employees. The awards, approved by the Company's Compensation Committee, collectively allow for the purchase of up to 122,650 shares of common stock.
The options were granted on March 11, 2025, with a ten-year term and an exercise price of $18.50 per share, matching the closing price of Summit's common stock on Nasdaq that day. These options were drawn from an equity incentive pool reserved on May 3, 2024, and January 22, 2025, specifically for new employee inducements under Nasdaq Listing Rule 5635(c)(4). The options will vest in equal annual installments over a four-year period.
Akeso announced that its partner Summit Therapeutics (NASDAQ: SMMT) has entered a clinical trial collaboration with Pfizer (NYSE: PFE) to evaluate ivonescimab, a novel PD-1/VEGF bispecific antibody, in combination with several of Pfizer's antibody drug conjugates (ADCs) across multiple solid tumor settings.
The collaboration aims to accelerate development of potentially landscape-changing combinations to improve standards of care for cancer patients with serious unmet needs. Each study will evaluate ivonescimab plus one of Pfizer's vedotin ADCs in distinct solid tumor settings to determine safety profiles and potential anti-tumor activity.
Under the agreement, Summit will provide ivonescimab while Pfizer will conduct the studies, with oversight from both companies. Both parties retain rights to their respective products. The studies are planned to begin in mid-2025, with further details to be announced later.
Summit Therapeutics (NASDAQ: SMMT) has reported its financial results for Q4 and full-year 2024. The company completed enrollment for its global Phase III HARMONi trial in NSCLC, with top-line data expected mid-2025. Summit announced a new clinical trial collaboration with Pfizer to evaluate ivonescimab in combination with vedotin ADCs, with trials starting mid-2025.
Financial highlights include cash and equivalents of $412.3 million as of December 31, 2024, up from $186.2 million in 2023. The company reported a GAAP net loss of $221.3 million ($0.31 per share) for 2024, compared to $614.9 million ($0.99 per share) in 2023. R&D expenses increased to $150.8 million from $59.4 million in 2023, while G&A expenses rose to $60.5 million from $30.3 million.
The company has expanded its HARMONi-3 trial to include both squamous and non-squamous histologies and received FDA Fast Track designation for ivonescimab in combination with chemotherapy for NSCLC patients.
Summit Therapeutics (NASDAQ: SMMT) has announced a clinical trial collaboration with Pfizer (NYSE: PFE) to evaluate ivonescimab, a novel PD-1/VEGF bispecific antibody, in combination with Pfizer's antibody drug conjugates (ADCs) across multiple solid tumor settings.
The collaboration aims to assess ivonescimab with several of Pfizer's vedotin-based ADCs in distinct solid tumor settings to determine safety profiles and potential anti-tumor activity. Summit will provide ivonescimab while Pfizer will conduct the studies, with both companies overseeing the trials. Both parties maintain their respective product rights.
The clinical trials are scheduled to begin in mid-2024, with further details to be announced later. The partnership focuses on developing novel mechanisms beyond current available treatments, particularly targeting non-small cell lung cancer and other solid tumors.
Summit Therapeutics (NASDAQ: SMMT) has announced it will host an earnings conference call to discuss its fourth quarter and full year 2024 financial results on Monday, February 24, 2025, before market opening. The company will also provide an operational update during the call, which is scheduled for 9:00am ET. The event will be accessible through a live webcast on Summit's website (www.smmttx.com), and an archived version will be made available afterward.
Summit Therapeutics (NASDAQ: SMMT) has announced the granting of inducement stock options to nine new employees. The awards consist of options to purchase up to 116,725 shares of common stock, with an exercise price of $19.08 per share, based on the closing price on February 11, 2025.
The options have a ten-year term and will vest in equal annual installments over a four-year period. These inducement awards were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and were approved by Summit's Compensation Committee from an equity incentive pool reserved on May 3, 2024.
Summit Therapeutics (NASDAQ: SMMT) has announced the granting of inducement stock options to nine new employees. The awards total 145,550 shares of common stock and were granted on January 10, 2025, with an exercise price of $17.85 per share, matching the closing price on the grant date.
The options have a ten-year term and will vest in equal annual installments over four years. These awards were granted from an equity incentive pool specifically reserved for new employee inducements, as approved by the Company's Compensation Committee on May 3, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4).
Summit Therapeutics (NASDAQ: SMMT) has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference in San Francisco. The presentation is scheduled for Monday, January 13, 2025, at 3:00 PM PT.
Chairman and CEO Robert W. Duggan and CEO & President Dr. Maky Zanganeh will deliver a corporate overview and provide updates on the company's progress, with particular focus on their innovative investigational bispecific antibody, ivonescimab.
The presentation will be accessible live through Summit's website (www.smmttx.com), with an archived version available for viewing after the event.
Summit Therapeutics (NASDAQ: SMMT) has announced the granting of inducement stock options to six new employees. The awards total 98,000 shares of common stock, with an exercise price of $17.97 per share, based on the closing price on December 10, 2024. These ten-year options, approved by the Company's Compensation Committee, will vest in equal annual installments over four years. The grants were made from a pre-approved equity incentive pool established on May 3, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4).
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