Why Summit Therapeutics Rocketed Double-Digits Today
Shares of lung cancer biotech Summit Therapeutics (NASDAQ: SMMT) rocketed 14.7% on Wednesday as of 1:45 p.m. ET.
The markets were broadly up today on a potential easing of trade tensions with China. That should be a positive for Summit, as its main partner for its current lung cancer drug trials is Chinese biotech Akeso (OTC: AKES.F).
But the real reason for the market-beating performance today was more good news regarding a phase III trial for Summit's breakthrough drug, ivonescimab.
Source Fool.com
