Stifel initiated coverage on Summit Therapeutics Inc (NASDAQ:SMMT), noting its main product ivonescimab, shows promising potential in two significant phase 3 trials for lung cancer treatment, with trial readouts expected in 2025.
If successful, these trials could open up a lucrative market worth billions, potentially leading to a substantial increase in the company’s stock value.
Stifel analyst sees an opportunity for two updates from Akeso in 2024 in China. Stifel initiated with a Buy rating and a price target of $8.
In December 2022, Akeso out-licensed exclusive rights to ivonescimab (PD-1/VEGF) to Summit Therapeutics for a total potential deal value of up to $5 billion.
One update pertains to regulatory matters, while the other involves ...