NEW YORK, Sept. 14, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Summit Therapeutics Inc. (“Summit” or the “Company”) (NASDAQ: SMMT). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Summit and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 30, 2025, Summit issued a press release “announc[ing] topline results from the Phase III clinical trial, HARMONi, the first global Phase III study evaluating ivonescimab[.]” Although patients treated with ivonescimab and chemotherapy were 48% less likely to progress or die than patients who received chemo alone, the drug failed to make a statistically significant difference in overall survival, a metric that measures how long patients live before dying of any cause.
On this news, Summit’s stock price fell $7.99 per share, or 30.5%, to close at $18.22 per share on May 30, 2025.
Then, on September 7, 2025, Summit announced additional data from the trial, in which ivonescimab produced weaker results in patients from North America and Europe than in those from Europe.
On this news, Summit’s stock price fell $6.54 per share, or 25.15%, to close at $19.45 per share on September 8, 2025.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
