Full Press Release Details
LOS ANGELES, Sept. 16, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Summit Therapeutics Inc. investors ("Summit" or the "Company") (NASDAQ: SMMT) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/summit-therapeutics-inc-4/. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
We are investigating Summit Therapeutics Inc. (SMMT) (“Summit” or the “Company”) for potential violations of the federal securities laws. 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.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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