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SMSMMT

Summit Therapeutics Inc.

$SMMT·$11B·Biotechnology·Healthcare
$13.73-4.2%YTD-22.5%1Y-43.8%
Mentions · last 7 days
2026-08-21: 7 posts2026-08-22: 3 posts2026-08-23: 12 posts68-15%
Price updated 2d ago·X counts updated 7d ago
SMSMMT
$SMMTSummit Therapeutics Inc.
$13.73-4.19%68 posts-15%
AI analysisFundamentalsVoices on X
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AI verdict & sentimentAI analysisGenerated by AI from underlying data

Top X posts

Today's AI verdict on what's driving $SMMT, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Hinges on a big eventWinding up for a moveAI verdict · as of 2026-08-29

Trading in a tight range and building pressure — a move looks likely soon, but the direction isn't clear yet.

Ivonescimab positive Ph3 biliary tract cancer readout — PD-(L)1/VEGF bispecific validation extending beyond lung cancer.

Summit Therapeutics licenses ivonescimab (partnered with China-based Akeso) — a PD-(L)1/VEGF bispecific antibody positioned as a next-generation immuno-oncology candidate. The Aug 25 Phase 3 HARMONi-GI1 readout in first-line advanced biliary tract cancer hitting statistically significant OS and PFS benefit versus durvalumab + chemo is a major clinical proof point.

What's actually here:

  • Revenue is functionally zero (pre-commercial) — the last four quarters were all essentially zero; consensus FY26 revenue is functionally zero, FY27 $80M, and FY28 $730M implying commercial launch begins in earnest through 2028.
  • The economics are burn-heavy — Q1 operating margin against no revenue, FCF -$93M, and consensus FY26 EPS of -$1.09 widening; the $11B market cap reflects heavy option value on ivonescimab commercial launch across multiple indications.
  • The HARMONi-GI1 data is a specific clinical proof — statistically significant OS benefit in biliary tract cancer (a specific niche where treatment options are limited) extends ivonescimab's addressable-population beyond NSCLC into other solid tumors; PD-(L)1/VEGF bispecific validation across indications derisks the platform.
  • The tape is near lows despite the data — position 9.7% of the 52-week range, essentially at the 50-day, 17% below the 200-day, on 0.78x volume; the +25% three-day rally per the sentiment is off a deeply distressed base.

The forward path is that Q3 earnings on Oct 19 with any additional ivonescimab pivotal-trial commentary plus updated HARMONi-2 (NSCLC) commercial readiness is the specific event; the crowd's neckline-retest framing implies technical setup for continued upside. The bear case is that competitive PD-(L)1/VEGF bispecifics from other pharma developers compress ivonescimab's clinical differentiation, or that the SMMT-Akeso partnership economics prove less favorable than the market assumes.

Agrees with X sentimentThe bullish X read on the HARMONi-GI1 positive Phase 3 OS/PFS data, +25% three-day rally, and PD-(L)1/VEGF bispecific validation across indications is grounded on the specific clinical readout; the neckline-retest framing has technical support.

What to watch: Q3 earnings on Oct 19 — specifically any HARMONi-2 (NSCLC) commercial launch readiness and additional ivonescimab pivotal-trial timelines. Also updated SMMT-Akeso partnership economics.

On the calendar: 2026-10-19 — Q3 2026 earnings

ph3 positive data recentmulti indication platform

X sentiment

What the X crowd is saying right now — descriptive, summarised from the day’s posts.

Bullish sentiment15 posts analyzed · as of 2026-08-30

Summit Therapeutics' thread turns bullish on Akeso's positive Phase 3 HARMONi-GI1 readout showing ivonescimab plus chemo delivering a statistically significant overall-survival advantage over AstraZeneca's durvalumab-plus-chemo in first-line advanced biliary tract cancer. Posters flag the November 14 FDA decision, Bob Duggan's ~73% stake and ~$100M co-CEO buy, +25% moves on the news, and the first efficacy signal outside lung cancer. Skeptics ask what the bear case even is now for PD-(L)1/VEGF bispecifics.

Read the AI verdict + X sentiment for $SMMT

  • One-line verdict on what's driving the move — fundamentals, momentum, both, or an event
  • Next dated catalyst when there is one (earnings, deal closing, activist clock)
  • X crowd read with bullish/bearish call + post volume
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What it does

Plain-English summary of the business — what they sell and how they make money.

Clinical-stage biotech with ivonescimab (anti-PD-1/VEGF bispecific antibody) targeting non-small cell lung cancer.

Industry overviewAI analysisGenerated by AI from underlying data

Where Biotechnology sits in its cycle right now — and what that implies for $SMMT.

Biotechnology · Healthcare

GLP-1 oral formulation competition — emerging clinical data from pipeline challengers — is the central bifurcation: platform holders (LLY, NVO) defend on efficacy breadth while precision oncology names decouple entirely. FDA catalyst cadence over the next 60 days sets the near-term tone.

What this means for $SMMT

Partial — fee-based midstream revenue has limited direct commodity price exposure but volume ties to upstream production activity.

Top industry ETF

$IBBiShares Biotechnology ETF
+12.1%YTD
+51.2%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
-10.9How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
-248%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
0.0%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
-2.5%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
0.0Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
-341%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
0.0%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
0.0Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q2 2026Jul 23, 2026$-0.28$-0.27-2.0%
Q1 2026Apr 30, 2026$-0.24$-0.33+27.3%
Q4 2025Feb 23, 2026$-0.29$-0.10-182.5%
Q3 2025Oct 20, 2025$-0.31$-0.18-76.4%
Next earningsMon, Oct 19·consensus EPS $-0.28

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$0———$-0.24$-92.9M
Q4 FY25$0———$-0.29$-75.8M
Q3 FY25$0———$-0.31$-69.2M
Q2 FY25$0———$-0.56$-49.0M

Forward consensus

5-year forecast · up to 12 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$3.2M$1.7M – $4.7M-$1.09-$1.31 – -$0.9510
FY27$76.1M$64.0M – $88.3M-$1.10-$1.32 – -$0.9810
FY28$731.7M$36.6M – $2.3B-$0.49-$0.96 – $0.2812
FY29$2.0B$347.0M – $5.6B$0.33-$0.02 – $1.1111
FY30$3.9B$688.5M – $11.2B$1.71-$0.12 – $5.806

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.0.8×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.10%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.-2.5%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.-16.7%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatMid float · 110.4M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today3.5% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β-1.245-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.FilingActive offeringA shelf registration (S-3 / S-3ASR / S-1) or prospectus supplement (424B*) was filed in the last 90 days — the company is registered to (or actively) issuing new shares. Dilution risk.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

BuyJun 12Robert W DugganCEO3.8M sh$50.0MBuyJun 12Mahkam ZanganehCEO3.8M sh$50.0MBuyJun 4Robert W DugganCEO100.0K sh$1.5MBuyJun 4Mahkam ZanganehCEO100.0K sh$1.5MBuyJun 4Soni Manmeet SinghCFO50.0K sh$722K

See when $SMMT insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
Free, forever. No credit card.

SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

8-KMaterial agreementJul 238-K — Item 1.01: Material agreement
AI summary

Summit Therapeutics Inc. (Delaware; Miami, FL), a clinical-stage biopharmaceutical company, filed an 8-K on July 23, 2026 under Item 1.01 disclosing entry into a material definitive agreement. The body excerpt contains only the standard cover page. For a clinical-stage biotech, a material agreement could be a licensing deal, collaboration, or strategic financing; the counterparty and financial terms are in the attached exhibit.

424B5Prospectus supplement (offering)Jul 23424B5
AI summary

Summit Therapeutics Inc. filed a prospectus supplement on July 23, 2026 to offer and sell up to $380,000,000 of common stock through an at-the-market (ATM) offering via J.P. Morgan Securities LLC as exclusive Sales Agent, under a Distribution Agreement dated the same day. Shares will be sold at prevailing market prices on Nasdaq (SMMT), with the closing price at $14.74 on July 22, 2026, implying up to ~25.8 million potential new shares. This is a significant potential dilution event for an oncology-focused biotech that also filed a material agreement the same day; actual ATM drawdown pace will determine near-term dilution.

8-KPress release / Reg FDJul 238-K — Item 2.02: Earnings release · Item 7.01: Press release / Reg FD
AI summary

Summit Therapeutics Inc. filed an 8-K on July 23, 2026 reporting financial results (Item 2.02) and furnishing a Reg FD investor presentation (Item 7.01). The body excerpt contains only the standard cover page. This is a routine quarterly earnings release from the oncology-focused biotech filed the same day as its $380M ATM prospectus and material definitive agreement; actual results are in the attached exhibits.

8-KShareholder voteJun 128-K — Item 5.07: Shareholder vote
AI summary

Summit Therapeutics held its 2026 Annual Meeting on June 10, 2026, electing all 9 director nominees including Robert Duggan and Mahkam Zanganeh; ratified PricewaterhouseCoopers LLP as independent auditor; approved advisory executive compensation; and approved an 8,000,000-share increase to the 2020 Stock Incentive Plan. The share plan expansion is a standard governance action but represents moderate additional dilution to existing shareholders.

8-KPress release / Reg FDJun 118-K — Item 7.01: Press release / Reg FD
AI summary

Summit Therapeutics Inc. withdrew its previously announced proposed underwritten public offering of securities, effective June 10, 2026, citing market conditions. No securities were sold under the proposed offering. The filing is a Reg FD furnishing (Item 7.01) and therefore not filed for Exchange Act Section 18 liability purposes. The withdrawal avoids near-term dilution but signals management chose not to press forward in current market conditions, leaving the company's capital position unchanged.

424B5Prospectus supplement (offering)Jun 10424B5
AI summary

Summit Therapeutics filed a preliminary 424B5 on June 9, 2026, offering $500 million of common stock at an assumed price of $14.11 per share (approximately 35.4 million shares), with a 30-day underwriter option for up to an additional $75M in shares. Underwriters are J.P. Morgan, Goldman Sachs, and Citigroup; the offering is structured off a shelf registration (File No. 333-296642). Use of proceeds was not detailed in the excerpt but is specified in the full supplement. This is a sizeable dilutive primary offering for a clinical-stage biotech, representing a meaningful share count increase and placing near-term dilution pressure on existing holders.

S-3ASRAuto-shelf registrationJun 9S-3ASR
AI summary

Summit Therapeutics Inc. filed an automatic shelf registration (S-3ASR) on June 9, 2026, registering common stock, preferred stock, debt securities, depositary shares, warrants, subscription rights, and units for future sale by the company or selling stockholders. As a large accelerated filer, the shelf is effective immediately upon filing. This is an evergreen financing shelf — no immediate dilution, but it positions SMMT to raise capital or facilitate secondary sales quickly.

+ 12 other (5 routine 8-Ks · 2 10-Qs · 2 proxys · 1 earnings 8-K) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

SMMT Rises on Akeso's Win in Phase III Biliary Tract Cancer Studyzacks.com·3d agoSummit Therapeutics: Signals Of Moving Past Lung Cancer (Rating Upgrade)seekingalpha.com·4d agoSummit Therapeutics Partner Highlights Positive Interim Data Milestone for Lead Cancer Therapybenzinga.com·4d agoIvonescimab Plus Chemotherapy Demonstrates Statistically Significant Overall Survival Benefit Compared to Durvalumab Plus Chemotherapy in First-Line Advanced Biliary Tract Cancer in Single-Region Trial Conducted by Akeso in Chinabusinesswire.com·5d agoSummit Therapeutics Says Ivonescimab Combination Extends Progression-Free Survival in Lung Cancer Patientsbenzinga.com·6d ago

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TickerTalks is a research tool, not financial advice. We surface social-attention data; we do not make stock recommendations. Past attention is not predictive of future price movements.

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