How BioNTech, Up 25% Over Four Days, Is Riding Summit's Coattails To A Recovery

Blockhead09-18

BioNTech (BNTX) stock has climbed 25% over four days as the German biotech rides a round of cancer treatment success from Summit Therapeutics (SMMT). ↑ X The Cell Therapy Market Is Expected To ...

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To A Recovery\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-18 00:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/news/technology/biontech-stock-summit-therapeutics-anti-vegf/><strong>Blockhead</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BioNTech (BNTX) stock has climbed 25% over four days as the German biotech rides a round of cancer treatment success from Summit Therapeutics (SMMT).\n\n\n\n↑\nX\n\n\n\n\nThe Cell Therapy Market Is Expected To ...</p>\n\n<a href=\"https://www.investors.com/news/technology/biontech-stock-summit-therapeutics-anti-vegf/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1116320901.HKD","symbol_name":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) 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This Biotech Is Poised To Capitalize On That Wave.\n\n\nSee All Videos\n\n\n\n\nNOW PLAYING\nThe Cell Therapy Market Is Expected To Grow 600% Over The Next Decade. This Biotech Is Poised To Capitalize On That Wave.\n\n\n\n\nLast week, Summit said its Akeso-partnered immuno-oncology drug topped Merck's (MRK) blockbuster, Keytruda, in a study of patients with non-small cell lung cancer. Summit's drug, ivonescimab, reduced the risk of progression or death by 49% compared with Keytruda alone.\nLike Keytruda, ivonescimab works by blocking a protein called PD-1. This helps immune cells find and destroy cancer cells. But Summit Therapeutics' drug also prevents the formation of new blood vessels by targeting a protein called VEGF.\nBioNTech and partner Biotheus are working on a similar drug. But Leerink Partners analyst Daina Graybosch says the story is long from settled for drugs like ivonescimab and BioNTech's BNT327. Drugs that block VEGF have long been tied to eventual toxicity.\n\"Upward pressure from growing awareness of the scope of the opportunity and anxiety of missing out will be balanced by downward pressure with the realization that the scientific debate is complex, and the development path will be long,\" she said in a report.\nIn midday trades Tuesday, BioNTech stock inched a fraction ahead to 124. The shares have surged almost 25% since Sept. 11. Summit Therapeutics presented its data on Sept. 9. BioNTech stock broke out of a lengthy consolidation with a buy point at 114.69 on Sept. 13.\nBioNTech Stock: Time Will Tell On VEGF\nGraybosch notes that BioNTech and Biotheus are in earlier-stage development than Summit. They are now working through dose optimization in their Phase 2 and Phase 3 study of patients with small cell lung cancer.\n\"The modest speed by which they can move forward right now may discourage some investors,\" she said.\nAt the same conference where Summit Therapeutics presented its ivonescimab results, BioNTech and Biotheus unveiled proof-of-concept data for their drug. The companies have tested it in non-small cell lung cancer, kidney cancer and triple negative breast cancer.\nGraybosch kept her outperform rating on BioNTech stock.\n\"We believe the next major catalysts will come from Phase 3 trial updates from the leading competitor, Akeso and Summit Therapeutics, potentially in 2025,\" she said. \"We also expect multiple rounds of data digging, referencing and debates to continue.\"\nFollow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.\nYOU MAY ALSO LIKE:\nAscendis Rockets — And Hammers BioMarin — On New Results For Growth Drug\nBausch Reportedly Explores A Sale; Could Alcon, J&J Or AbbVie Buy It?\nHow To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks\nProfit From Short-Term Trends With SwingTrader\nLearn How To Time The Market With IBD's ETF Market Strategy","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Product Release","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468360956"}