Summit Therapeutics (SMMT) Climbs 16% Ahead of Q2 Earnings

We recently published 10 Stocks Exploding Higher: Bitcoin Miners Dominate the List. Summit Therapeutics Inc. (NASDAQ:SMMT) is one of Wednesday's top performers.

Summit Therapeutics surged by 16.05 percent on Wednesday to close at $28.27 apiece, leading the rally of the overall biotechnology sector, as investors repositioned portfolios ahead of the release of its second quarter earnings performance.

Based on its historical earnings reporting dates, Summit Therapeutics Inc. (NASDAQ:SMMT) is slated to announce the results of its financial and operating performance in the first week of August 2025, where investors will be looking out for updated outlooks and cues of further partnerships with other companies.

In recent news, Summit Therapeutics Inc. (NASDAQ:SMMT) reportedly sat down with AstraZeneca for a supposed $15-billion licensing deal for its experimental lung cancer drug Ivonescimab.

According to reports, the deal could include an upfront payment of several billion dollars to Summit Therapeutics Inc. (NASDAQ:SMMT) on top of milestone payments later on. However, a deal is not guaranteed as the company could still explore partnerships with other firms.

The negotiations followed Summit Therapeutics Inc.’s (NASDAQ:SMMT) official $5-billion licensing partnership with China-based Akeso in December 2022.

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Disclosure: None. This article is originally published at Insider Monkey.