Summit Therapeutics Inc (SMMT)

[Rayn_Makr]

Watching the trades on Fidelity active trader pro today, Friday 6/21/24, at 16:00:00 one trade shows up. Volume = 5,808,156 at a price of $7.93 for a total of $46,058,677.08. So 2.2 million in the first 6.5 hours and 5.8 million in one second at exactly 4 pm. I called Fidelity ATP support and they confirm that this is accurate data. It also appears on Yahoo Finance and Finviz. 8.1 million shares traded today. Gotta be short covering. I have never seen anything like this before today. Be great if short sellers were gone, eh?

[Rayn_Makr]

Watching the trades at the close yesterday, Wednesday 6/12/24, and in the final 15 sec, 502,000 shares @ $8.22 = $4,126,440. Short covering or tute buying in? IDK but I'm thinking this is a market order that gets filled without moving the price. Big money is all I know and it caught my interest. Thought it supports the current price.

Thanks for the link axel.

[axelvento]

Summit Therapeutics' Jack West on the company's PD-1xVEGF bi-specific vs Keytruda news

https://www.biotechtv.com/post/summit-therapeutics-june-1-2024

$HUGE

[JFR161162]

I meant NWBO pre opening trades
Wrong board sorry

[JFR161162]

I see 2 pre opening trades this morning.

1,400 shares at $,4816
5,100 shares at $,50

[Single Stock]

TRADING HALT

[Rayn_Makr]

Here's the link to the JAMA publication: https://jamanetwork.com/journals/jama/fullarticle/2819600
I've spent the afternoon reading it a couple times and here's my $0.02 worth.

The P-values on all the stats are very impressive. The efficacy was P<0.001. Responce rate, ORR, had P<.0.006. "Significant longer PFS duration than chemotherapy alone" was P<0.001. All of these are less than the P<0.05 that is the typical value required. If the Summit P3 trials are still recruiting I would expect there would be considerable effort to get enrolled if you are diagnosed with this type of CA.

I have also seen P3 trials ended early due to ethical considerations but whether or not that applies here is way beyond my pay grade as they say. Frankly, I would struggle with continuing to let the group not receiving Ivonescimab progress their treatments knowing what we know now. Safe to assume that the FDA will require a complete study and analysis. I hope it goes to market quickly which will benefit millions.

[Rayn_Makr]

Lots of news regarding ASCO, an article published in JAMA (which is no small feat since it is THE JOURNAL of....), conference call Monday, 6/3/24, @ 8 am. Refer to Summit website for the folowing press release.

Ivonescimab Manuscript for HARMONi-A Clinical Trial Results Published in JAMA
Publication Entitled: Ivonescimab Plus Chemotherapy in Non–Small Cell Lung Cancer With EGFR Variant: A Randomized Clinical Trial
HARMONi-A was Featured in Oral Presentation at ASCO 2024 on May 31, 2024
Conference Call to be Held at 8:00am ET on Monday, June 3, 2024

[Termite7]

Why the HUGE gap up? ...Thanks!!!

[Rayn_Makr]

If I were to hazard a guess..... Recruiting a person with FDA submissions experience since that will be the next hurdle. You know, get it right the first time and avoid timely delays, resubmissions etc.

[Rayn_Makr]

This looks like a typical recruitment tool to bring a "heavy hitter" on board. Four years to vest so it keeps them around. It is a common retention tool and a nice feature to have in your employment agreement. It can turn out to be worth considerably more than your salary.

[Invest-in-America]

SMMT: But what about THIS (later) news today??? ----
https://finance.yahoo.com/news/summit-therapeutics-reports-inducement-grants-220000000.html

[Rayn_Makr]

Shs Float 82.98M
Short Float 27.19%

Bad day to be short, eh?
Best one day gain in my life (which occurred in one hour).
Thanks Summit!

[tbonaces80]

Nice trade. Maybe $20 in am. If futures go

[tbonaces80]

Buying at 8.30

[Awl416]

Ivonescimab Monotherapy Decisively Beats Pembrolizumab Monotherapy Head-to-Head, Achieves Statistically Significant Superiority in PFS in First-Line Treatment of Patients with PD-L1 Positive NSCLC in China

[Rayn_Makr]

Form 8-K Summit Therapeutics Inc. For: May 24
10K WIZARD 8:35 AM ET 5/24/2024
http://archive.fast-edgar.com/20240524/ANZ2C22CZ22SA2Z2222S22ZZHNTTVZPS7262

Filed on: May 24, 2024

"On May 23, 2024, ASCO released abstracts for presentations to take place during the Annual Meeting. Included in these abstracts, was topline data associated with HARMONi-A. Notably, patients receiving ivonescimab plus chemotherapy experienced a median progression free survival (PFS) by independent radiology review committee (IRRC) of 7.06 months (95% CI: 5.85 – 8.74) as compared to 4.80 months (95% CI: 4.21 – 5.55) for those patients receiving chemotherapy alone (hazard ratio: 0.46; 95% CI: 0.34 – 0.62).


Grade ≥3 treatment emergent adverse events (TEAEs) occurred in 61.5% patients receiving ivonescimab plus chemotherapy as compared to 49.1% patients receiving chemotherapy; the most common grade ≥3 TEAEs were chemotherapy related adverse events.


Additional data and context including, but not limited to, response rates, stable disease rates, progression free survival, overall survival, and safety is expected to be made available during ASCO’s Annual Meeting.


The abstract can be found here (Abstract 8508): https://meetings.asco.org/2024-asco-annual-meeting/15779?presentation=232409#232409;"

[Monksdream]

SMMT under $5

[Rayn_Makr]

At the end of Mach the insiders added a fair amount. Don't especially like the trend but the weekly chart may be forming a cup and handle. https://stockcharts.com/freecharts/gallery.html?smmt

Insider Trading Relationship Date Transaction Cost #Shares Value ($) #Shares Total SEC Form 4
Zanganeh Mahkam Chief Executive Officer Mar 27 '24 Buy 3.72 54,321 201,874 24,923,800 Mar 27 08:28 PM
Zanganeh Mahkam Chief Executive Officer Mar 27 '24 Buy 3.72 26,000 96,720 520,814 Mar 27 08:28 PM
Dhingra Ankur Chief Financial Officer Mar 26 '24 Buy 3.75 100,000 375,000 354,958 Mar 27 08:27 PM
Zanganeh Mahkam Chief Executive Officer Mar 26 '24 Buy 3.75 30,000 112,500 30,000 Mar 27 08:28 PM

[Monksdream]

SMMT under $5

[Rayn_Makr]

Well the $100 million note has been pushed out until April 2025. I had a couple orders filled on the way DOWN. Rarely a good idea. Need to order a neck brace.

[Rayn_Makr]

Is it safe to assume there will be a capital raise in the next six months or so since $100 million note is due in September 2024? Stock dilution and volatility is my concern. Trying to figure out when to add to my position. Thoughts?

Third Quarter 2023

Financial Highlights

Aggregate cash and cash equivalents, restricted cash, short-term investments, and receivables on September 30, 2023 totaled $200.5 million as compared to $654.7 million on December 31, 2022.
Our cash, cash equivalents, restricted cash, and short-term investments on September 30, 2023 was $198.9 million as compared to $648.6 million on December 31, 2022. Accounts receivable and research and development tax credits receivable on September 30, 2023 were $1.6 million as compared to $6.1 million on December 31, 2022.
Our short-term investments consist of U.S. treasury securities.
Our current notes payable balance at September 30, 2023 was $100.0 million, which is due in September 2024.
Based on our current cash and investments position, current operating plans, and with the $100.0 million notes payable due in September 2024, we have sufficient funds to operate into the second half of 2024.
Net loss for the three and nine months ended September 30, 2023 was $21.3 million and $578.4 million, respectively. Net loss for the three and nine months ended September 30, 2022 was $21.4 million and $59.6 million, respectively.
The net loss for the nine months ended September 30, 2023 includes one-time in-process research and development expenses associated with the in-licensing of ivonescimab from Akeso of $520.9 million.
Operating cash outflow for the nine months ended September 30, 2023 and 2022 was $57.3 million and $46.8 million, respectively.

[Rayn_Makr]

I've been looking at the leadership....
https://jackwestmd.com/bio-cv/
https://finance.yahoo.com/news/laura-chow-md-cancer-immunotherapy-204100812.html
I'm impressed!

[Monksdream]

SMMT new 52 week high

[heisagolfer]

earnings come tuesday feb 20 won't be good.... still a yr away from good profits.

[Rayn_Makr]

At 4:49 on Valentines Day, 2/14/24, once again two large blocks traded in one minute without moving the price:
16:49:35 $4.45 694,532
16:49:35 $4.45 689,034
The total is: $6,156,868
https://www.nasdaq.com/market-activity/stocks/smmt/after-hours-trades

[Rayn_Makr]

At 10:06 today, 2/8/24, a block of 734,483 shares trader. That's roughly 1/2 the average daily volume in one minute. Approximately $3.048,100. So three blocks totaling about $10,000,000 in the past day. Somebody is serious, eh?
Trying to get "calibrated" I looked back at the price history of Regeneron. From 2010 to 2015 it went from $25 to $500. 20x. I'd be happy with that. $60B market cap seems possible but I've been wrong before (just once). :-0

[Rayn_Makr]

LARGE After hours volume
Nice run up today, 2/7/24, and now two big trades AH? Whats up with that?
After-Hours Volume 1,485,679
16:47:16 $4.25 762,733
16:47:16 $4.25 696,820
$6,203,100.25 in those two trades. Somebody didn't want to drive the price up would be my guess.

[Monksdream]

Early Barchart 100
https://www.barchart.com/stocks/performance/percent-change/advances?timeFrame=today&viewName=main&screener=overall&orderBy=percentChange&orderDir=desc

[Rayn_Makr]

Congrats on spotting SMMT early. I saw the CEO and CFO buying 12/12 & 12/13 and jumped in the next day. The 8 January 2024 presentation is awesome as is the run up since that date. It sure looks like senior management is gifted. Any predictions on where it is in 3-5 years?
I retired from a large company with a diagnostics division so VNRX caught my eye with their low cost CA test. Around Thanksgiving 2023 directors started buying around $0.75. I got in as low as $0.65 so between SMMT and VNRX, this year is off to a "reasonably good start". Very low volume on VNRX gives me concerns though. SMMT volume looks great.

[heisagolfer]

look at my june 21st post... do i need to say more?

[Rayn_Makr]

The recent presentations* and updates are compelling. The testing being conducted in China provides large data sets that will empower the analysis at a statistically meaningful level. I am thrilled to see Duggan buying into this on a large scale. He has a history of successful investing and leadership.

I also came across Volition, ticker VNRX. I cannot help but imagine an annual cancer diagnostic screen with positive results being treated with Ivonescimab in stage 1 or stage 2. I have a substantial amount invested in both SMMT and VNRX. So far both are Green.

*https://www.smmttx.com/investor-information/summit-presentations/

[heisagolfer]

Iovance is having problems with their lung cancer drug, it should help out SMMT be more valuable. ... https://www.marketwatch.com/articles/iovance-stock-fda-lung-cancer-study-58e7e994?mod=mw_latestnews

[heisagolfer]

CFO bought more stock on dec 13... Form 4 - Statement of changes in beneficial ownership of.. clic on news and scroll down to see the form 4

[heisagolfer]

CFO bought more stock on dec 13... Form 4 - Statement of changes in beneficial ownership of.. clic on news and scroll down to see the form 4

[heisagolfer]

the head man buying millions of dollars of stock per the disclosure... im in

[heisagolfer]

as i said a few weeks ago under 2 bucks is cheap for a company that is in good shape for fda approval for lung cancer.. next stop 5 bucks.. don't miss the boat.

[heisagolfer]

under 2 bucks a share is cheap for a company close to having meds for lung cancer. once fda approval you will see a rocket ship. don't miss out. GLTA

[heisagolfer]

Promising Data for Investigational Innovative Bispecific Ivonescimab Featured at ASCO 2023
June 04 2023 - 08:00AM
Business Wire

[heisagolfer]

as it closer gets to fda approval the stock will continue to advance, don't miss the boat

[heisagolfer]

new press release...http://www.businesswire.com/news/home/20230601005388/en/Ivonescimab-Updated-Data-to-be-Featured-at-ASCO-2023

[Klinsmann]

OK, little lie from my side. Sold on 1.90 support break, but back in today. This stock gonna be a very nice long term hold - imo

[heisagolfer]

good time to buy on the dips before it gets closer to FDA approval. then watch out!!!!

[NRS]

Mr. Robert Duggan, CEO of SMMT, also has an investment company, appropriately named "Duggan Investments". Here's some copy from its website: "Duggan Investments is a hands-on, active investment company, headed by Robert Duggan, who has many decades of success and experience.
An example: Under Bob’s guidance, Pharmacyclics' stock price increased from $0.57 a share in Feb 2009, to $261.25 a share in May 2015. Pharmacyclics and its "miracle drug" IMBRUVICA® were acquired by AbbVie for $21 billion in May 2015. As of today, IMBRUVICA® continues its dramatic growth and success, with use in widening indications."
Here's a link to the site: https://dugganinvestments.com/
Duggan is THE major shareholder in SMMT. He is also the major share holder in another medical research company, "Pulse Biosciences Inc" symbol PLSE. You might find its stock chart interesting. Cheers, NRS

[Klinsmann]

Major support around 1.90 held well. That was critical early today...
But this is a great stock in the making - imo
Won´t sell under 10$!

[heisagolfer]

earnings were not a surprise but it was expected. the closer we get to fda approval the more the stock will advance, you will see profit taking along the way. some could clearly trade in and out on this but just don't miss the major leg up. good luck

[Klinsmann]

Bought in the 1.40´s and won´t sell anytime soon. Mark this post. This stock is a lifechanger imo

[BEIJING BILL]

Earning tomoroe morning ... many p3 trials ongoing ... expect an update on it.

Ceo bought 500k of stock few months back as did COO

the kompamy is.flushed with cash ..

500milion worth...


Its vill be a good one

[BEIJING BILL]

Thisnis redy to activate tomorow and thursday.

Bonzaii skippyies

[heisagolfer]

loved the profit taking today, i was able to grab somemore. this is going to go much much higher. people we are talking about lung cancer .... do you know the numbers that have lung cancer, its huge! i have been in the market for over 50 years. this might be the most excited i have been about a stock. good luck.