Why Summit Therapeutics Rocketed 584% in 2024
Shares of biotech Summit Therapeutics (NASDAQ: SMMT) skyrocketed 583.7% in 2024, according to data from S&P Global Market Intelligence.
Summit was an early-stage biotechnology stock heading into the year, but the company graduated to a higher class in 2024 following promising trial results for Ivonescimab, its monoclonal antibody drug for lung cancer.
Summit's stock generated all of its gains in two big chunks in 2024, with one in May and another in September, with each move following the disclosure of different phase 3 trial data.
Source Fool.com
