From Yahoo Finance: 2025-05-04 05:39:00

The past trading week saw a generally optimistic market environment, with the Nasdaq up 3.4%, Dow Jones up 3%, and S&P 500 up 2.9%. 10 firms stood out with gains as high as 48%, driven by better-than-expected earnings and outlook. Summit Therapeutics Inc. (SMMT) grew its share price by 18.88%, ending at $27.9.

Investor sentiment in Summit Therapeutics Inc. (SMMT) was boosted by Cantor Fitzgerald’s bullish outlook on the company’s ivonescimab bispecific antibody, despite disappointing first-quarter earnings. SMMT recently secured approval in China for ivonescimab as a treatment for PD-L1-positive NSCLC, expanding its global reach.

In the first quarter, Summit Therapeutics Inc. (SMMT) saw its net loss widen by 44.6%, with operating expenses increasing by 57.5% year-on-year. Despite ranking 6th on the list of firms that soared last week, the focus remains on AI stocks for potentially higher returns in a shorter timeframe.



Read more at Yahoo Finance: Why Summit Therapeutics Inc. (SMMT) Soared Last Week