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Summit Therapeutics (SMMT) Reveals Phase II AK112-206 Trial Data

Summit Therapeutics Inc. (NASDAQ:SMMT) is one of the 10 best large cap stocks under $30 with highest upside potential.

On May 31, Summit Therapeutics Inc. (NASDAQ:SMMT) presented new clinical data from the international Phase II AK112-206 trial during the American Society of Clinical Oncology. Co-sponsored alongside Akeso, this multisite study evaluates the potential first-in-class bispecific antibody named ivonescimab, for patients battling first-line metastatic colorectal cancer.

Tonhom1009/Shutterstock.com

According to the study, treatment-naive patients in the U.S. and China receiving this novel therapeutic in combination with standard mFOLFOX6 chemotherapy showed a strong objective response rate of 70.8%. When compared to the previous performance of standard-of-care regimens that mix bevacizumab with traditional FOLFOX chemotherapy, it is seen that these clinical outcomes are quite promising.

On May 1, the price target on Summit Therapeutics Inc. (NASDAQ:SMMT) was cut from $17 to $16 by Piper Sandler. The firm retained a Neutral rating on the stock. According to the company’s first-quarter earnings report, the projected quarter two preliminary PFS analysis was completed and approved by the IDMC, which suggested that the research should proceed as scheduled.

Despite little alpha expended in the interim, Summit shares are “understandably weak” after-hours, according to the firm, as investors wonder if the remarkable effect size seen in Akeso’s HARMONi-6 can be repeated in Summit’s worldwide HARMONi-3 trial.

Summit Therapeutics Inc. (NASDAQ:SMMT) is a clinical-stage biopharma company that develops and commercializes medical oncology therapies. It is focused on developing ivonescimab, a bispecific antibody that combines blockade of PD-1 and anti-angiogenesis in a single molecule. It is also running Phase III clinical trials for the treatment of non-small lung cancer.

While we acknowledge the risk and potential of SMMT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SMMT and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

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Wall Street calls this $3 stock a “Melting Ice Cube.” They said the same thing about BTI before it returned 90%.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

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We alerted our subscribers, and BTI returned 90% in just 16 months.

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Today, we have identified a nearly identical pattern in a digital-first giant trading at $3.

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