Is Summit Therapeutics a Buy Now?
Shares of Summit Therapeutics (NASDAQ: SMMT) recently jumped in response to positive clinical trial results for its experimental cancer therapy. Results of the phase 3 Harmoni-2 trial suggest newly diagnosed lung cancer patients are better off with its cancer drug candidate, ivonescimab, than the current standard of care, Keytruda from Merck (NYSE: MRK).
With global sales that rose 19% last year to $25 billion, Keytruda is the world's top-selling drug. It's approved to treat lots of different cancer patients, but first-line lung cancer is the indication most responsible for its success.
Is Summit Therapeutics a good investment now? While ivonescimab beat the pants off of Keytruda in Harmoni-2, there are lots of ins and outs when it comes to determining the trajectory of new cancer drug launches.
Source Fool.com
