Summit Therapeutics (SMMT)
Develops Akeso-origin ivonescimab through multinational late-stage oncology trials.
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Develops ivonescimab, an Akeso-engineered PD-1/VEGF bispecific antibody, through multinational late-stage trials in lung and colorectal cancers. Its in-licensed oncology model depends on clinical results, regulatory review, external financing, and the Akeso agreement, while the drug remains unapproved in Summit’s territories.
Develops ivonescimab, an Akeso-engineered PD-1/VEGF bispecific antibody, across multinational late-stage oncology programs. The pipeline focuses on non-small cell lung cancer and metastatic colorectal cancer, with multiple registrational studies described in early 2026.
Operates through an in-licensed model: Akeso retains China and other excluded markets, while Summit controls development and commercialization across the United States, Canada, Europe, Japan, Latin America, the Middle East, and Africa. Clinical execution and regulatory filings are concentrated around this single externally engineered asset.
Depends on trial outcomes, regulatory review, continued access to capital, and obligations under the Akeso license. Ivonescimab remained unapproved in Summit’s territories in the latest context disclosure, while China’s authorization sits under Akeso’s territorial rights.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Summit Redstone Partners | Target | Target: $11.90 | Target: $25 |
| Sep 8, 2026 | UBS | Reiterate | Rating: —Target: — | Target: $33 |
| Aug 25, 2026 | Bernstein | Upgrade | ||
| Aug 25, 2026 | Summit Redstone Partners | Target | Target: $18 | Target: $11.90 |
| Aug 12, 2026 | Leerink Partners | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $690.7M · Total debt $20.4M · Total assets $752.2M · Shareholders' equity $630.0M
- Revenue
- $0
- Operating income
- −$220.5M
- Net income
- −$215.7M
No dividends on record.
| Institutions | 17.16% | 136.89M shares | |
|---|---|---|---|
| 269 holders · as of Jun 30, 2026 | |||
| Insiders | 75.59% | 602.99M shares | |
| 3 holders · as of Jun 12, 2026 | |||
| Other | 7.25% | 57.87M shares | |
| remainder | |||
797.75M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Robert W. DugganInsiderdirector, 10 percent owner, officer: Co-Chief Executive Officer | 75.18% | 599.71M | filed Jun 12, 2026 |
Baker Bros. Advisors LPInstitution | 4.11% | 32.79M | as of Jun 30, 2026 |
FMR LLCInstitution | 1.26% | 10.04M | as of Jun 30, 2026 |
State Street CorpInstitution | 1.20% | 9.54M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 1.19% | 9.53M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 12, 2026 | Robert W. Duggan | director, 10 percent owner, officer: Co-Chief Executive Officer | +3,810,000 | $13.12 |
| Jun 12, 2026 | Mahkam Zanganeh | director, 10 percent owner, officer: Co-Chief Executive Officer | +3,810,000 | $13.12 |
| Jun 4, 2026 | Manmeet Singh Soni | director, officer: COO and CFO | +50,000 | $14.45 |
| Jun 4, 2026 | Mahkam Zanganeh | director, 10 percent owner, officer: Co-Chief Executive Officer | +100,000 | $14.60 |
| Jun 4, 2026 | Robert W. Duggan | director, 10 percent owner, officer: Co-Chief Executive Officer | +100,000 | $14.60 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Summit Therapeutics | $16.98 | +0.47% | $13.48B | — | — | — | — |
| Merck | $150.88 | +0.92% | $369.24B | 119.6 | 17.5 | 5.6 | +5.1% |
| Bristol-Myers Squibb | $62.70 | +0.13% | $127.91B | 13.8 | 9.8 | 2.6 | +5.7% |
| Median | 66.7 | 13.6 | 4.1 | +5.4% |