SMMT & TIL: 700%+ Gains, More to Come!
From late 2023 to the close on September 23rd, 2024, $Summit Therapeutics PLC(SMMT)$ and $Instil Bio, Inc.(TIL)$ have both soared past 700% in share prices. The stellar performance is fueled by their promising new drug candidates, which could revolutionize cancer treatment and rake in billions in annual sales.
Recent clinical trial data hints at a bright future for Summit and Instil Bio's respective drug prospects. Should these trials succeed, the pre-commercial pharma stocks could skyrocket even further.
1. $Summit Therapeutics PLC(SMMT)$
Summit's share price once soared over 1000%, before settling. As of September 23rd's close, it still boasted a 2024 gain of 739.5%. The surge stems from Akeso-licensed lung cancer drug ivonescimab outperforming Keytruda in Phase III trials.
In China, Summit's partner, $AKESO(09926)$ is conducting the HARMONi-2 head-to-head Phase III trial for newly diagnosed lung cancer patients. Interim analysis revealed a 49% reduced risk of disease progression for ivonescimab-treated patients compared to Keytruda. Summit kicked off the HARMONi-3 trial in North America last October.
Lung cancer is Summit's launchpad, given its deadliness, but the company's ambitions extend beyond. Summit recently reported promising response rates for ivonescimab in solid tumors like colon, breast, and head & neck cancers.
2. $Instil Bio, Inc.(TIL)$
Instil Bio, another US pharma player licensed a bispecific PD-1/VEGF antibody from a Chinese partner, is soaring too. $IMMUNEONCO-B(01541)$ 's IMM2510, temporarily named SYN-2510 by Instil, lacks direct Keytruda comparisons, yet Instil Bio's share price has exploded – up 814% in 2024 as of early September 24th.
SYN-2510 lags behind ivonescimab in development, but Instil Bio and Yiming Onco have a catch-up plan. The Chinese partner recently announced late-stage development strategies, including a planned first-line lung cancer trial in China later this year. Instil also anticipates starting a Phase II trial for SYN-2510 as second-line lung cancer treatment in the US this year.
SMMT or TIL?
While ivonescimab could emerge as a leading lung cancer treatment, Summit’s valuation, now at around $15.9 billion, poses risks for a company without a marketed product. Any negative trial data could deal a blow.
Instil Bio, with a market cap of just $451 million, carries its own risks due to limited information on SYN-2510.
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