Summit Therapeutics PLC Sponsored ADR Stock News

What do many kids like most about the coming of a new year? The fireworks.

Summit Therapeutics (SMMT 8.36%) has risen in prominence in the past two years thanks to a promising pipeline candidate, ivonescimab, a potential cancer treatment. The company's shares are up by 340% since January 2023.

A five-bagger in only five years? Any investor would love to buy such a stock.

Investing in biotech stocks usually isn't for the faint of heart. These stocks tend to be highly volatile because of the inherent risks of developing new drugs.

It's been a good year for the stock market as a whole and a tremendous year for a couple of drugmaker start-ups. Shares of Viking Therapeutics (VKTX -1.75%) and Summit Therapeutics (SMMT -0.22%) more than doubled in 2024.

Normally, you might expect to achieve significant gains from stocks if you invest in them for years, perhaps decades. But given how hot the stock market has been this year, some stocks have produced life-changing returns in much shorter time frames.

MIAMI--(BUSINESS WIRE)---- $SMMT--Summit Therapeutics Inc. (NASDAQ: SMMT) ("Summit," "we," or the "Company") today announced the grant of inducement awards of options to purchase a collective total of up to 98,000 shares of common stock. Awards were made to six new employees of the Company. The awards were granted as an inducement material to the new employees becoming employees of the Company ...

Summit Therapeutics (SMMT 5.82%) stock got a real shot in the arm Friday with the initiation of coverage by a veteran financial services company. On news that Jefferies is now tracking the stock, investors snapped it up to push its price nearly 6% higher across the day's trading session.