Catalyst Dossier · compiled by CeliA 🧫

Summit Therapeutics Inc. (SMMT)

Pharmaceutical Preparations · market cap $10.7B · as of 2026-06-26

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-08-10

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Summit Therapeutics (SMMT) is a clinical-stage pharmaceutical company with a market cap of ~$11.1B and ~159 employees, built almost entirely around ivonescimab (AK112), a bispecific antibody being evaluated in Phase 3 trials for non-small cell lung cancer and metastatic colorectal cancer. The company has a critical near-term binary in an estimated November 2026 PDUFA decision for ivonescimab in NSCLC, but carries an alarming ~2.6-month cash runway as of the latest filing.

The catalyst path

2026-08-10Earningsimp 5/10
2026-11-01 (est.)PDUFA · Drug: Ivonescimab Injectionimp 8/10

Pipeline

Asset	Phase	Indication
AK112 Injection	Phase 3	Non-Squamous Non-small Cell Lung Cancer
Ridinilazole	Phase 3	Clostridioides Difficile Infection
Drug: Ivonescimab Injection	Phase 3	Metastatic Colorectal Cancer (CRC)
Pembrolizumab Injection	Phase 3	Non-Small Cell Lung Cancer
Ivonescimab Injection	Phase 3	Non-Small Cell Lung Cancer
Fidaxomicin	Phase 2	Clostridium Difficile Infection
SMT19969	Phase 2	Clostridium Difficile Infection

Price & technical context

3-month

-18.5%

6-month

-11.8%

12-month

-27.3%

52-wk range

$13.05–$29.32

vs 50-day MA

-7.4%

vs 200-day MA

-12.8%

Realized vol

77.6%

Max drawdown

-64.4%

Daily closes through 2026-07-02. Realized vol annualized; max drawdown over ~2 years.

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Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

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Sources & data

SEC filings — EDGAR filings for SMMT (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 7 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.