Track market-moving stories before they get noisy

An updated edition of the March 26, 2026, article.

The global oncology market is undergoing rapid transformation, driven by rising cancer incidence, aging population and ongoing scientific advances. According to the American Cancer Society, the United States alone is expected to see nearly 2.1 million new cancer cases and more than 626,000 deaths in 2026. Globally, growing exposure to lifestyle-related risk factors such as smoking, obesity and physical inactivity, along with demographic changes, is increasing cancer prevalence and supporting long-term growth in oncology healthcare spending.

At the same time, innovation is reshaping cancer care. Advances in immunotherapy, targeted treatments and personalized cancer vaccines have significantly broadened options beyond traditional chemotherapy and radiation. Immune-based approaches — including checkpoint inhibitors, CAR-T therapies, therapeutic vaccines and oncolytic viruses — are leveraging the body’s immune system to fight cancer more effectively. Meanwhile, targeted therapies are improving precision by addressing specific genetic and molecular abnormalities, while personalized vaccines are advancing individualized treatment strategies.

Emerging technologies such as genomic sequencing, artificial intelligence and machine learning are accelerating biomarker discovery, improving patient selection, and enabling earlier and more accurate diagnosis. Although a universal cure remains elusive, steady gains in survival rates and patient outcomes across multiple cancer types underscore the impact of these advances, particularly when paired with earlier detection and intervention.

Pharmaceutical companies continue to increase investment and strategic focus in oncology. Industry leaders such as Novartis (NVS - Free Report) , AstraZeneca (AZN - Free Report) , J&J (JNJ - Free Report) , Pfizer (PFE - Free Report) , AbbVie, Merck, Bristol Myers Squibb and Eli Lilly are expanding oncology pipelines with advanced modalities such as antibody-drug conjugates (ADCs), bispecific antibodies and next-generation immuno-oncology therapies. Smaller biotech firms also remain critical innovation drivers, often developing novel platforms and targets that support partnerships, licensing deals and M&A activity.

Backed by continuous innovation, supportive reimbursement trends and expanding treatment options, oncology remains one of the most resilient and attractive areas of the global healthcare sector for long-term investors.

With our thematic screens, you can easily spot stocks tied to trends shaping the future of investing. For those looking to gain exposure to the oncology space, companies such as Summit Therapeutics (SMMT - Free Report) , Verastem Oncology (VSTM - Free Report) and Xilio Therapeutics (XLO - Free Report) may be worth evaluating as part of a forward-looking portfolio strategy.

Explore 36 cutting-edge investment themes with Zacks Thematic Investing Screens and uncover your next big opportunity.

3 Cancer Stocks in FocusSummit Therapeutics’ lead pipeline candidate is ivonescimab, a dual PD-1/VEGF inhibitor that inhibits both the PD-1 pathway and the VEGF pathway at once. They are designed to overcome the limitations of single-target therapies like Keytruda. Summit in-licensed rights to develop and commercialize ivonescimab in most major global markets outside China from China-based Akeso in early 2023.

Summit Therapeutics is evaluating this drug in multiple late-stage studies across different settings in non-small cell lung cancer (NSCLC) and colorectal cancer (CRC). Ivonescimab is currently approved only in China for two distinct NSCLC indications. 

For the NSCLC indication, the drug has already generated multiple positive phase III datasets. In January, the FDA accepted a biologics license application seeking approval of ivonescimab plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who had progressed after treatment with an EGFR-TKI. The BLA filing was based on encouraging results from the phase III HARMONi study. The FDA’s decision is expected on Nov. 14, 2026.

Per Summit Therapeutics, ivonescimab has the potential to replace PD-L1 inhibitors like Keytruda and Tevimbra as the next standard of care across multiple NSCLC settings. 

SMMT has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy)  stocks here.

Verastem Oncology is a precision oncology company focused on targeting key signaling pathways—particularly the RAS/MAPK pathway, which is affected in a large proportion of cancers.  Its novel combination regimen of avutometinib plus defactinib was approved by the FDA in early May 2025 for treating KRAS mutant recurrent low-grade serous ovarian cancer (LGSOC), a rare and distinct type of ovarian cancer. The approval was granted under the FDA’s accelerated approval pathway. It is commercialized in the U.S. market as an oral combination co-pack with the two prescription products, known as Avmapki Fakzynja Co-Pack. The launch is off to a strong start. The innovative combination therapy generated $30.9 million in sales in 2025 and $18.7 million in the first quarter of 2026.

Avmapki Fakzynja Co-Pack became the first and only FDA-approved treatment for the LGSOC indication. Per Verastem Oncology, the combo sets a new standard of care for women with recurrent LGSOC with a KRAS mutation.

The company is also evaluating avutometinib plus defactinib in combination studies in first-line metastatic pancreatic cancer, non-small cell lung cancer (NSCLC) and other RAS-driven tumors. The company recently initiated three phase II registration-directed studies on VS-7375, an oral, KRAS G12D (ON/OFF) inhibitor, in pancreatic, non-small cell lung, and colorectal cancers.

VSTM has a relatively active pipeline calendar through 2026 and 2027.

Verastem has a Zacks Rank #2.

Xilio Therapeutics has an exclusive license agreement with Gilead to develop and commercialize its investigational tumor-activated IL-12 inhibitor, efarindodekin alfa, as a monotherapy in a phase II study in patients with advanced solid tumors. 

Another key candidate in its pipeline is XTX501, a novel bispecific PD-1 / masked IL-2. For this candidate, Xilio plans to submit an investigational new drug (IND) application in mid-2026 to begin clinical studies. Xilio plans to begin a phase I study for XTX501 in the second half of 2026, subject to the FDA clearing the IND application. Xilio Therapeutics plans to initially evaluate XTX501 in NSCLC, with the goal of subsequently expanding development into additional solid tumor types, including those that are less responsive or resistant to PD-1–based therapies. The company sees XTX501 as a potential foundational “backbone” therapy.

In addition, Xilio is advancing a suite of preclinical “masked” T-cell engagers targeting tumor antigens such as PSMA, CLDN18.2 and STEAP1, with plans to enter clinical development by 2027, including a collaboration with AbbVie.

Xilio has a Zacks Rank #2

Key Takeaways SMMT filed ivonescimab's FDA application after phase III NSCLC data. The decision is expected in November.SMMT is enrolling patients in phase III NSCLC and CRC studies, with HARMONi-3 data expected in 2H 2026.SMMT expanded ivonescimab's development through collaborations with GSK, Pfizer and other partners. Summit Therapeutics (SMMT - Free Report) has emerged as one of the most closely watched oncology biotech companies following the rapid advancement of its lead cancer candidate, ivonescimab. Summit in-licensed rights to develop and commercialize ivonescimab in most major global markets outside China from China-based Akeso in early 2023.

Since in-licensing rights to ivonescimab, Summit Therapeutics has transformed from a small biotech player into a late-stage oncology company with a growing global development program centered around the candidate.

Ivonescimab is a dual PD-1/VEGF inhibitor being evaluated in multiple late-stage studies across different settings in non-small cell lung cancer (NSCLC) and colorectal cancer (CRC). Unlike currently marketed immuno-oncology therapies that target only the PD-1 pathway, ivonescimab simultaneously targets both PD-1 and VEGF, a differentiated mechanism that management believes could redefine the treatment landscape and emerge as the next standard of care in NSCLC.

Year to date, shares of SMMT have declined 0.1% compared with the industry’s 6.4% fall.

Image Source: Zacks Investment Research

Investor attention remains focused on the company’s expanding late-stage pipeline and upcoming regulatory milestones.

SMMT Rides on Ivonescimab’s Development ProgressBuilding on the success of the Akeso-sponsored studies in China, Summit Therapeutics is sponsoring multiple global and multi-regional clinical studies to support regulatory approvals in its licensed territories.

In May 2025, SMMT reported encouraging results from the phase III HARMONi study, which evaluated ivonescimab plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who had progressed after treatment with an EGFR-TKI. The study met one of its two primary endpoints — progression-free survival (PFS). Although the study did not meet the overall survival (OS) endpoint, the data showed a favorable trend toward OS. Based on these results, Summit Therapeutics submitted a biologics license application with the FDA in January 2026. A final decision on ivonescimab’s approval is expected by Nov. 14, 2026.

The company is currently enrolling patients in three late-stage studies on ivonescimab — two in NSCLC (HARMONi-3 and HARMONi-7) and one in CRC (HARMONi-GI3).

HARMONi-3 is evaluating ivonescimab against Merck’s (MRK - Free Report) blockbuster drug Keytruda, as first-line treatment for metastatic squamous and non-squamous NSCLC, while HARMONi-7 is evaluating ivonescimab monotherapy in patients with first-line metastatic NSCLC whose tumors have high PD-L1 expression. A data readout from the squamous cohort of the HARMONi-3 study is expected in the second half of 2026, which could be an important catalyst for the stock.

Enrollment in the non-squamous NSCLC cohort is expected to be completed by the end of second-quarter 2026, with PFS data anticipated in the first half of 2027.

Beyond lung cancer, Summit Therapeutics has expanded development into gastrointestinal cancers through the HARMONi-GI3 study, the company’s first late-stage study outside NSCLC. The study is evaluating the candidate in combination with chemotherapy against bevacizumab plus chemotherapy in first-line unresectable metastatic colorectal cancer.

Like HARMONi-GI3, Summit plans to start more late-stage studies on ivonescimab and intends to provide updates in the near future.

Strategic Collaborations Expand Development PotentialSummit Therapeutics expanded the potential of ivonescimab through a collaboration with drug giant GSK plc (GSK - Free Report) to evaluate the candidate in combination with GSK’s investigational B7-H3-targeting antibody drug conjugate, risvutatug rezetecan, across multiple solid tumors, including small cell lung cancer (SCLC). The company has partnered with GORTEC, MD Anderson Cancer Center, Pfizer and Revolution Medicines to accelerate ivonescimab’s preclinical and clinical development across several solid tumor indications beyond its current core development plan.

SMMT's Zacks Rank & EstimatesSummit Therapeutics currently has a Zacks Rank #2 (Buy). Over the past 30 days, estimates for SMMT’s 2026 loss per share have narrowed from $1.31 to $1.17, and 2027 estimates for loss per share have improved from $1.38 to $1.21.

Positive regulatory updates and the successful development of ivonescimab could support the further momentum for the stock in 2026.

Encouraging Global Phase II Ivonescimab Data in First-Line Metastatic Colorectal Cancer Presented at ASCO 2026 Summit Therapeutics Inc. (NASDAQ: SMMT) today presented new results from the AK112-206 trial (NCT05382442), a global, open-label, multicenter Phase II study in first-line metastatic colorectal cancer (mCRC) co-sponsored by Summit and Akeso, featuring the novel, potential first-in-class investigational bispecific antibody ivonescimab. The data were presented today at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago.

The presentation, entitled “Ivonescimab with Oxaliplatin + Fluorouracil + Leucovorin Calcium for Patients with Unresectable Metastatic Colorectal Cancer: A Phase 2 Study,” detailed interim results of the multiregional extension portion of the study evaluating ivonescimab combined with mFOLFOX6 chemotherapy in patients with unresectable microsatellite stable (MSS) mCRC who were previously untreated for metastatic disease. Patients (n=49) were randomized (1:1) to receive ivonescimab (10 or 20 mg/kg; n=24, n=25, respectively) plus mFOLFOX6 once every two weeks. The data cut-off for this analysis was March 31, 2026 (10 or 20 mg/kg median follow-up: 9.9 months, 9.8 months, respectively).

In this U.S.- and China-based Phase II cohort of treatment-naïve patients with mCRC, patients receiving ivonescimab in combination with standard-of-care doublet chemotherapy mFOLFOX6 demonstrated an objective response rate (ORR) of 70.8% across both arms in evaluable patients (n=48). This result is encouraging compared to historical performance of standard-of-care regimens combining bevacizumab with FOLFOX chemotherapy from prior studies. Treatment responses in the ivonescimab 20 mg/kg arm were more durable than in the ivonescimab 10 mg/kg arm, with a duration of response landmark estimate at 9 months of 79.1% vs. 41.5%, respectively. While progression-free survival (PFS) analysis is still immature in this study, the landmark 9-month PFS rate was 76.1% for those patients receiving 20 mg/kg of ivonescimab.

The safety profile of ivonescimab combined with chemotherapy in this study is comparable to rates observed in historical studies with chemotherapy and anti-VEGF antibodies. In total including both arms, 20.4% of patients experienced serious treatment-related adverse events (TRAEs) associated with either ivonescimab or chemotherapy. There were no ivonescimab-related deaths and one ivonescimab-related discontinuation, supporting the tolerability and ability to manage adverse events.

“In this expansion cohort of treatment-naïve patients with metastatic colorectal cancer, the addition of ivonescimab to mFOLFOX6 delivered deep and durable response rates that compare favorably to historical benchmarks seen with chemotherapy alone or in combination with anti-VEGF therapies,” said David Berz, M.D., Ph.D., medical oncologist, Founder of Valkyrie Clinical Trials and an investigator in the AK112-206 study. “While progression-free survival remains immature, the high proportion of patients who were progression-free at nine months is encouraging, and the safety profile was consistent with established standards of care. These results support the potential of this dual-targeted approach to improve outcomes in this difficult-to-treat population and warrant further investigation.”

Ivonescimab continues to demonstrate an acceptable and manageable safety profile with no new safety signals observed in this study. This was consistent with previous studies of ivonescimab, including Phase II data in mCRC, and evidencing the potential for a favorable benefit-risk profile for ivonescimab plus mFOLFOX6 in this setting. In this study, adverse events were manageable: all patients experienced at least one treatment-emergent adverse event (TEAE) related to either ivonescimab or chemotherapy with the most common events on both dosing arms being decreased neutrophil count, decreased white blood cell count, and anemia.

“Metastatic colorectal cancer remains a significant area of unmet need, where many patients continue to face limited durable treatment options,” said Allen S. Yang, M.D., Ph.D., Chief R&D Strategy Officer of Summit. “These data add to the growing body of evidence supporting the potential of ivonescimab as a differentiated PD-1 / VEGF bispecific, and we are committed to advancing its development across multiple tumor types where we believe it may meaningfully improve patient outcomes.”

Summit is currently conducting HARMONi-GI3 (NCT07228832), a global Phase III clinical trial evaluating ivonescimab in combination with mFOLFOX6 chemotherapy compared with bevacizumab plus mFOLFOX6 chemotherapy in patients with first-line unresectable mCRC. This study is featured at this year’s ASCO Annual Meeting in a Trials-in-Progress (TiP) presentation entitled, “A Randomized, Active-Controlled Phase 3 Study of Ivonescimab + FOLFOX Versus Bevacizumab + FOLFOX as First-Line Treatment of Metastatic Colorectal Cancer: HARMONi-GI3.”

About Colorectal Cancer
Colorectal cancer (CRC), which includes cancers of the colon and rectum, is the third most commonly diagnosed cancer worldwide and the second leading cause of cancer-related death, with approximately 1.9 million new cases and more than 900,000 deaths reported globally in 2022.1 In the U.S., CRC remains a significant health burden, with an estimated 158,850 new cases and 55,230 deaths projected in 2026.2 Prognosis is highly dependent on stage at diagnosis: while overall 5-year survival is approximately 65%, patients with metastatic disease have substantially poorer outcomes, with 5-year survival rates of approximately 13% for metastatic colon cancer and 18% for metastatic rectal cancer.2,3 These data underscore the urgent need for improved treatment options for patients with metastatic CRC (mCRC).

CRC is biologically heterogeneous, with tumors broadly classified based on microsatellite status. Approximately 80–85% of colorectal cancers are microsatellite stable (MSS), also referred to as mismatch repair–proficient (pMMR) tumors.4 MSS/pMMR colorectal tumors are typically characterized by lower tumor mutational burden and an immune-cold phenotype, with limited responsiveness to immune checkpoint inhibitors.5,6 In metastatic disease, they represent the overwhelming majority of cases, accounting for approximately 95% of tumors.5 As a result, most patients with mCRC are not eligible for currently approved immunotherapy monotherapies and are treated with chemotherapy-based regimens, often in combination with targeted therapies such as anti-VEGF and anti-EGFR agents.

About Ivonescimab
Ivonescimab, known as SMT112 in Summit’s license territories, North America, South America, Europe, the Middle East, Africa, and Japan, and as AK112 outside of Summit’s license territories, is a novel, potential first-in-class investigational bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule. By design, ivonescimab displays unique cooperative binding to each of its intended targets with multifold higher affinity to PD-1 when in the presence of VEGF.

This is intended to differentiate ivonescimab as there is potentially higher expression (presence) of both PD-1 and VEGF in tumor tissue and the tumor microenvironment (TME) as compared to normal tissue in the body. Summit believes ivonescimab’s specifically engineered tetravalent structure (four binding sites) enables higher avidity (accumulated strength of multiple binding interactions) in the TME (Zhong, et al, iScience, 2025). This tetravalent structure, the intentional novel design of the molecule, and bringing these two targets into a single bispecific antibody with cooperative binding qualities have the potential to direct ivonescimab to the tumor tissue versus healthy tissue. The intent of this design, together with a half-life of 6 to 7 days after the first dose (Zhong, et al, iScience, 2025) increasing to approximately 10 days at steady state dosing, is to improve upon previously established efficacy thresholds, side effects, and safety profiles associated with prior approved drugs to these targets.

Ivonescimab was engineered by Akeso Inc. (HKEX Code: 9926.HK) and is currently utilized in multiple Phase III clinical trials. Over 4,000 patients have been treated with ivonescimab in clinical studies globally, and over 70,000 patients when considering those treated in a commercial setting in China, as noted by Akeso.

There are currently 15 Phase III clinical studies that are either announced, ongoing, or have been completed studying ivonescimab, four of which are Summit-sponsored global studies, one of which is a multiregional study sponsored by a cooperative group, and 10 of which are being or have been conducted in China by Akeso. Summit began its clinical development of ivonescimab in NSCLC, commencing enrollment in 2023 in two multiregional Phase III clinical trials, HARMONi and HARMONi-3. In 2025, Summit began enrolling patients in HARMONi-7. Summit expanded its Phase III clinical development program into CRC in the fourth quarter of 2025 by initiating enrollment in HARMONi-GI3.

HARMONi is a Phase III clinical trial evaluating ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who were previously treated with a third- generation EGFR TKI (e.g., osimertinib). Detailed results of the study were provided in September 2025, and a Biologics License Application (BLA) was submitted to the United States Food and Drug Administration (FDA) for marketing authorization, which the FDA accepted for filing in January 2026; the goal Prescription Drug User Fee Act (PDUFA) date is November 14, 2026.

HARMONi-3 is a Phase III clinical trial evaluating ivonescimab combined with chemotherapy compared to pembrolizumab combined with chemotherapy in patients with first-line metastatic, squamous or non-squamous NSCLC, irrespective of PD-L1 expression. The clinical trial is evaluating the two histologies as individual, separately powered cohorts with independent statistical powering.

HARMONi-7 is a Phase III clinical trial evaluating ivonescimab monotherapy compared to pembrolizumab monotherapy in patients with first-line metastatic NSCLC whose tumors have high PD-L1 expression.

HARMONi-GI3 is a Phase III clinical trial evaluating ivonescimab in combination with chemotherapy compared with bevacizumab plus chemotherapy in patients with first-line unresectable metastatic CRC.

ILLUMINE is a Phase III study being conducted by GORTEC, a cooperative group dedicated to Head and Neck Oncology, in recurrent / metastatic head and neck squamous cell carcinoma (r/m HNSCC). ILLUMINE is a three-arm Phase III clinical trial designed to evaluate ivonescimab monotherapy, as well as ivonescimab in combination with ligufalimab, Akeso’s proprietary anti-CD47 monoclonal antibody, compared to monotherapy pembrolizumab in patients with PD-L1 positive r/m HNSCC.

In addition, Akeso has recently had positive read-outs in three single-region (China), randomized Phase III clinical trials, HARMONi-A, HARMONi-2, and HARMONi-6, for ivonescimab in NSCLC, including a statistically significant overall survival benefit in HARMONi-A, with a manageable safety profile in each study.

HARMONi-A was a Phase III clinical trial evaluating ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with an EGFR TKI.

HARMONi-2 is a Phase III clinical trial evaluating monotherapy ivonescimab against monotherapy pembrolizumab in patients with locally advanced or metastatic NSCLC whose tumors have positive PD-L1 expression.

HARMONi-6 is a Phase III clinical trial evaluating ivonescimab in combination with platinum-based chemotherapy compared with tislelizumab, an anti-PD-1 antibody, in combination with platinum-based chemotherapy in patients with locally advanced or metastatic squamous NSCLC, irrespective of PD-L1 expression.

Akeso is actively conducting multiple Phase III clinical studies in settings outside of NSCLC, including biliary-tract cancer, triple-negative breast cancer, head and neck squamous cell carcinoma, small cell lung cancer, colorectal cancer, and pancreatic cancer.

Ivonescimab is an investigational therapy that is not approved by any regulatory authority in Summit’s license territories, including the United States and Europe. Ivonescimab was initially approved for marketing authorization in China in May 2024.

About Summit Therapeutics Inc.
Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Summit was founded in 2003 and the company’s shares are listed on the Nasdaq Global Market (symbol "SMMT"). Summit is headquartered in Miami, Florida, with additional offices in Palo Alto, California, Princeton, New Jersey, Dublin, Ireland, and Oxford, UK.

For more information, please visit https://www.smmttx.com and follow Summit on X @SMMT_TX.

References:

World Health Organization. Colorectal cancer fact sheet. February 13, 2026. Accessed May 19, 2026. National Cancer Institute, Surveillance, Epidemiology, and End Results (SEER) Program. Cancer Stat Facts: Colorectal Cancer. Accessed May 19, 2026. American Cancer Society. Survival Rates for Colorectal Cancer (based on SEER 2014–2020 data). January 13, 2026. Accessed May 19, 2026. Colorectal Cancer Alliance. Microsatellite Stability Biomarker (MSS). Accessed May 19, 2026. Lieu CH. The use of immunotherapy in metastatic microsatellite-stable colorectal cancer. Hematol Oncol. 2022;20(12). Han YJ, Shao CY, Yao Y, et al. Immunotherapy of microsatellite stable colorectal cancer: resistance mechanisms and treatment strategies. Postgrad Med J. 2024;100:373–381. Summit Forward-Looking Statements
Any statements in this press release about the Company’s future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of the Company’s product candidates, entry into and actions related to the Company’s partnership with Akeso Inc. and other collaborations, the intended use of the net proceeds from the private placements, the Company's anticipated spending and cash runway, the therapeutic potential of the Company’s product candidates, the potential commercialization of the Company’s product candidates, the timing of initiation, completion and availability of data from clinical trials, the potential submission of applications for marketing approvals, the expected timing of BLA submissions or FDA decisions, potential acquisitions, statements about the previously disclosed At-The-Market equity offering program (“ATM Program”), the expected proceeds and uses thereof, the Company’s estimates regarding stock-based compensation, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company’s ability to sell shares of our common stock under the ATM Program, the conditions affecting the capital markets, general economic, industry, or political conditions, including the effects of geopolitical developments, domestic and foreign trade policies, and monetary policies, the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company’s pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the "Risk Factors" and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of filings that the Company makes with the Securities and Exchange Commission. Summit defines a “positive study” as a clinical study that with one or more prespecified primary endpoints in which one of those endpoints achieves a statistically significant benefit according to the protocol or statistical analysis plan. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.

Summit Therapeutics and the Summit Therapeutics logo are registered trademarks of Summit Therapeutics Inc. and/or its affiliates. Copyright 2026, Summit Therapeutics Inc. All Rights Reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260530544179/en/

Ivonescimab Plus Chemotherapy Reduced the Risk of Death by 34% Compared to Tislelizumab Plus Chemotherapy; Hazard Ratio 0.66

First Regimen to Achieve a Statistically Significant and Clinically Meaningful Overall Survival Benefit over an anti-PD-(L)1 Antibody Combined with Chemotherapy in a Phase III Clinical Trial in 1L NSCLC

Tolerable Safety Profile Consistent with Prior Clinical Trial Results

Simultaneous Publication of Latest Ivonescimab HARMONi-6 Results in The Lancet

Summit Conference Call to Be Held at 7:00 a.m. ET on Monday, June 1, 2026

MIAMI--(BUSINESS WIRE)--Summit Therapeutics Inc. (NASDAQ: SMMT) today announced positive overall survival (OS) results from the Phase III HARMONi-6 trial, conducted in China and sponsored by Summit’s partner Akeso, Inc. (HKEX Code: 9926.HK), will be presented today as part of the Plenary Session at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago.

The presentation is entitled “Ivonescimab plus chemotherapy versus tislelizumab plus chemotherapy in previously untreated advanced squamous non-small cell lung cancer: Overall survival results of the phase 3 HARMONi-6 trial.” HARMONi-6 is evaluating ivonescimab in combination with platinum-based chemotherapy compared to tislelizumab, a PD-1 inhibitor, in combination with platinum-based chemotherapy in patients with locally advanced or metastatic squamous non-small cell lung cancer (NSCLC) irrespective of PD-L1 expression. HARMONi-6 is a single region, multi-center, Phase III study conducted in China and sponsored by Akeso, with all relevant data exclusively generated, managed, and analyzed by Akeso. The trial’s primary endpoint is progression-free survival (PFS), and OS is a key secondary endpoint.

The trial results will be presented by Dr. Shun Lu, MD, PhD, Chief of Shanghai Lung Cancer Center at Shanghai Chest Hospital, Professor of Medicine at Shanghai Jiaotong University, and associate editor for the Journal of Thoracic Oncology.

In major markets globally, first-line therapy for patients with advanced NSCLC without driver mutations is most commonly a PD-1 inhibitor plus platinum-based chemotherapy. Prior to HARMONi-6, there were no known Phase III clinical trials in advanced NSCLC which have shown a statistically significant and clinically meaningful improvement in OS when compared to PD-(L)1 inhibitor therapy in combination with chemotherapy in a head-to-head setting. Examples of PD-(L)1 inhibitors include pembrolizumab, nivolumab, tislelizumab, and atezolizumab.

Clinically Meaningful Efficacy

In the HARMONi-6 planned interim analysis of OS, ivonescimab in combination with chemotherapy demonstrated a statistically significant improvement when compared to tislelizumab in combination with chemotherapy, with a hazard ratio (HR) of 0.66 (95% CI: 0.50, 0.87; p=0.0017). A clinically meaningful benefit was demonstrated across clinical subgroups, including those with either PD-L1 negative or positive expression. OS rates at 24 months were 64.7% for those patients receiving ivonescimab plus chemotherapy compared to 48.6% for those receiving tislelizumab plus chemotherapy. Median follow-up time of the current data cut was 21.4 months.

HARMONi-6 ITT (n=532):

Median Follow-up: 21.36 mos.

Ivonescimab + Chemo

(n=266)

Tislelizumab + Chemo

(n=266)

Median OS

27.89 mos.

(95% CI: 27.89, NE)

23.69 mos.

(95% CI: 20.11, NE)

24-Month OS Rates

64.7%

48.6%

OS Stratified HR

0.66

(95% CI: 0.50, 0.87; p= 0.0017)

mos.: months; NE: not established

“For the first time, a Phase III clinical study has demonstrated a statistically significant overall survival benefit in front-line driver-mutation-negative non-small cell lung cancer compared to anti-PD-1 therapy in combination with chemotherapy,” said Dr. Maky Zanganeh, President and Co-Chief Executive Officer of Summit. “While this represents another study where ivonescimab has demonstrated a significant OS benefit, these data represent the answer to the question regarding ivonescimab and its ability to translate PFS benefits into the extension of lives for patients with cancer in the front-line setting compared to immunotherapy-based regimens.”

The HARMONi-6 study met its primary endpoint as announced in April 2025, showing a statistically significant and clinically meaningful improvement in PFS. Detailed results for efficacy and safety were presented at the European Society of Medical Oncology 2025 Congress (ESMO 2025) last October and published in The Lancet simultaneously.

Safety Profile

In this analysis, ivonescimab continued to demonstrate an acceptable and manageable safety profile in the HARMONi-6 study, which was consistent with previous Phase III studies of ivonescimab plus chemotherapy. No additional safety signals were noted in the HARMONi-6 study in this current data cut compared to the previous data cut presented.

Treatment-related serious adverse events occurred in 41.4% of patients receiving ivonescimab in combination with chemotherapy and 34.3% of patients receiving tislelizumab in combination with chemotherapy. Most of the possibly VEGF-related adverse events occurring in the ivonescimab-plus-chemotherapy arm were classified as Grade 1 or 2; Grade 3 or higher hemorrhage events were observed in 2.6% of patients in the ivonescimab-plus-chemotherapy arm compared to 0.8% of patients in the tislelizumab-plus-chemotherapy arm in this study. Treatment-related adverse events (TRAEs) leading to discontinuation in this study occurred in 5.3% of patients receiving ivonescimab plus chemotherapy compared to 4.5% for those receiving tislelizumab plus chemotherapy.

In squamous NSCLC, VEGF-A monoclonal antibodies have had limited clinical development based on historical data demonstrating significant risks of toxicity, including life-threatening hemorrhage and other bleeding complications. The results of this study further validate the unique mechanism of action of ivonescimab, including apparent key differences as compared to historical clinical studies where an anti-PD-1 monoclonal antibody and an anti-VEGF monoclonal antibody were administered separately.

HARMONi-6 Clinical Trial Results Published in The Lancet

The Lancet simultaneously published these findings in a manuscript titled, “Ivonescimab plus Chemotherapy for Squamous Non-small-cell Lung Cancer.”

“A heartfelt congratulations to our partner, Akeso, for their continuing, tremendous efforts to make a significant difference in the lives of patients with cancer,” said Robert W. Duggan, Chairman and Co-Chief Executive Officer of Summit. “The decision we made in December 2022 to enter into a partnership specifically with Akeso and accelerate the global clinical development plan of this potentially landscape-changing compound in ivonescimab is further validated with these groundbreaking results for patients facing high unmet medical needs. We look forward to continuing this positive momentum.”

Conference Call

Summit will host a conference call and live webcast to discuss recent updates related to ivonescimab, including data released at ASCO, on Monday, June 1, 2026, at 7:00 a.m. ET. Conference call and webcast information is accessible through the company’s website, www.smmttx.com. An archived edition of the webcast will be available on the website later in the day on Monday.

About Ivonescimab
Ivonescimab, known as SMT112 in Summit’s license territories, North America, South America, Europe, the Middle East, Africa, and Japan, and as AK112 outside of Summit’s license territories, is a novel, potential first-in-class investigational bispecific antibody combining the effects of immunotherapy via a blockade of PD-1 with the anti-angiogenesis effects associated with blocking VEGF into a single molecule. By design, ivonescimab displays unique cooperative binding to each of its intended targets with multifold higher affinity to PD-1 when in the presence of VEGF.

This is intended to differentiate ivonescimab as there is potentially higher expression (presence) of both PD-1 and VEGF in tumor tissue and the tumor microenvironment (TME) as compared to normal tissue in the body. Summit believes ivonescimab’s specifically engineered tetravalent structure (four binding sites) enables higher avidity (accumulated strength of multiple binding interactions) in the TME (Zhong, et al, iScience, 2025). This tetravalent structure, the intentional novel design of the molecule, and bringing these two targets into a single bispecific antibody with cooperative binding qualities have the potential to direct ivonescimab to the tumor tissue versus healthy tissue. The intent of this design, together with a half-life of 6 to 7 days after the first dose (Zhong, et al, iScience, 2025) increasing to approximately 10 days at steady state dosing, is to improve upon previously established efficacy thresholds, side effects, and safety profiles associated with prior approved drugs to these targets.

Ivonescimab was engineered by Akeso Inc. (HKEX Code: 9926.HK) and is currently utilized in multiple Phase III clinical trials. Over 4,000 patients have been treated with ivonescimab in clinical studies globally, and over 70,000 patients when considering those treated in a commercial setting in China, as noted by Akeso.

There are currently 15 Phase III clinical studies that are either announced, ongoing, or have been completed studying ivonescimab, four of which are Summit-sponsored global studies, one of which is a multiregional study sponsored by a cooperative group, and 10 of which are being or have been conducted in China by Akeso. Summit began its clinical development of ivonescimab in NSCLC, commencing enrollment in 2023 in two multiregional Phase III clinical trials, HARMONi and HARMONi-3. In 2025, Summit began enrolling patients in HARMONi-7. Summit expanded its Phase III clinical development program into CRC in the fourth quarter of 2025 by initiating enrollment in HARMONi-GI3.

HARMONi is a Phase III clinical trial is evaluating ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who were previously treated with a third-generation EGFR TKI (e.g., osimertinib). Detailed results of the study were provided in September 2025, and a Biologics License Application (BLA) was submitted to the United States Food and Drug Administration (FDA) for marketing authorization, which the FDA accepted for filing in January 2026; the goal Prescription Drug User Fee Act (PDUFA) date is November 14, 2026.

HARMONi-3 is a Phase III clinical trial evaluating ivonescimab combined with chemotherapy compared to pembrolizumab combined with chemotherapy in patients with first-line metastatic, squamous or non-squamous NSCLC, irrespective of PD-L1 expression. The clinical trial is evaluating the two histologies as individual, separately powered cohorts with independent statistical powering.

HARMONi-7 is a Phase III clinical trial evaluating ivonescimab monotherapy compared to pembrolizumab monotherapy in patients with first-line metastatic NSCLC whose tumors have high PD-L1 expression.

HARMONi-GI3 is a Phase III clinical trial evaluating ivonescimab in combination with chemotherapy compared with bevacizumab plus chemotherapy in patients with first-line unresectable metastatic CRC.

ILLUMINE is a Phase III study being conducted by GORTEC, a cooperative group dedicated to Head and Neck Oncology, in recurrent / metastatic head and neck squamous cell carcinoma (r/m HNSCC). ILLUMINE is a three-arm Phase III clinical trial designed to evaluate ivonescimab monotherapy, as well as ivonescimab in combination with ligufalimab, Akeso’s proprietary anti-CD47 monoclonal antibody, compared to monotherapy pembrolizumab in patients with PD-L1 positive r/m HNSCC.

In addition, Akeso has recently had positive read-outs in three single-region (China), randomized Phase III clinical trials, HARMONi-A, HARMONi-2, and HARMONi-6, for ivonescimab in NSCLC, including a statistically significant overall survival benefit in both the HARMONi-A and HARMONi-6 studies, and a manageable safety profile in each study.

HARMONi-A was a Phase III clinical trial which evaluated ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced or metastatic non-squamous NSCLC who have progressed after treatment with an EGFR TKI.

HARMONi-2 is a Phase III clinical trial evaluating monotherapy ivonescimab against monotherapy pembrolizumab in patients with locally advanced or metastatic NSCLC whose tumors have positive PD-L1 expression.

HARMONi-6 is a Phase III clinical trial evaluating ivonescimab in combination with platinum-based chemotherapy compared with tislelizumab, an anti-PD-1 antibody, in combination with platinum-based chemotherapy in patients with locally advanced or metastatic squamous NSCLC, irrespective of PD-L1 expression.

Akeso is actively conducting multiple Phase III clinical studies in settings outside of NSCLC, including biliary-tract cancer, triple-negative breast cancer, head and neck squamous cell carcinoma, small cell lung cancer, colorectal cancer, and pancreatic cancer.

Ivonescimab is an investigational therapy that is not approved by any regulatory authority in Summit’s license territories, including the United States and Europe. Ivonescimab was initially approved for marketing authorization in China in May 2024.

About Summit Therapeutics Inc.
Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Summit was founded in 2003 and the company’s shares are listed on the Nasdaq Global Market (symbol "SMMT"). Summit is headquartered in Miami, Florida, with additional offices in Palo Alto, California, Princeton, New Jersey, Dublin, Ireland, and Oxford, UK.

For more information, please visit https://www.smmttx.com and follow Summit on X @SMMT_TX.

Summit Forward-Looking Statements
Any statements in this press release about the Company’s future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of the Company’s product candidates, entry into and actions related to the Company’s partnership with Akeso Inc. and other collaborations, the intended use of the net proceeds from the private placements, the Company's anticipated spending and cash runway, the therapeutic potential of the Company’s product candidates, the potential commercialization of the Company’s product candidates, the timing of initiation, completion and availability of data from clinical trials, the potential submission of applications for marketing approvals, the expected timing of BLA submissions or FDA decisions, potential acquisitions, statements about the previously disclosed At-The-Market equity offering program (“ATM Program”), the expected proceeds and uses thereof, the Company’s estimates regarding stock-based compensation, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company’s ability to sell shares of our common stock under the ATM Program, the conditions affecting the capital markets, general economic, industry, or political conditions, including the effects of geopolitical developments, domestic and foreign trade policies, and monetary policies, the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company’s pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the "Risk Factors" and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of filings that the Company makes with the Securities and Exchange Commission. Summit defines a “positive study” as a clinical study that with one or more prespecified primary endpoints in which one of those endpoints achieves a statistically significant benefit according to the protocol or statistical analysis plan. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.

Summit Therapeutics and the Summit Therapeutics logo are registered trademarks of Summit Therapeutics Inc. and/or its affiliates. Copyright 2026, Summit Therapeutics Inc. All Rights Reserved.

For most of the past three decades, U.S.-listed biotech companies were fair proxies for homemade American science. But now, that assumption is fraying. By one estimate from investment bank Jefferies, roughly a third of the industry's licensing spending in 2025 went toward drugs and candidates that originated in China, where lower costs and faster regulators have turned its labs into a firehose of ready-to-license molecules and programs.

In antibody-drug conjugates (ADCs) -- an increasingly sophisticated class of targeted therapies -- Chinese biotechs now supply close to 90% of global licensing activity. The question is, when you buy a U.S. biotech stock whose most promising programs were invented elsewhere, by another company, what are you actually holding?

In some cases, the answer to that question might contain an unpleasant surprise for investors, which is why this trend of importing innovation is also an emerging risk worth understanding.

Image source: Getty Images.

It's dangerous to bet that American biotechs will replicate foreign results Summit Therapeutics (SMMT +2.57%) is a biotech with an investment thesis that's almost entirely dependent on the success of ivonescimab, an antibody therapy for various cancers that it licensed from China's Akeso in 2022, paying $500 million up front and low-double-digit royalties on sales. Summit didn't discover the molecule; it bought the right to sell it in the U.S., Europe, and Japan.

In May 2025, according to the first peek, investors were given data from ivonescimab's global phase 3 trial for patients with previously treated, EGFR-mutated non-small cell lung cancer (NSCLC). Treatment with ivonescimab plus chemotherapy led to an impressive 48% gain in progression-free survival (PFS). But the data for overall survival (how long patients lived) did not pass the threshold for statistical significance.

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After the full trial data were presented later in the year, there was another, even larger issue: The cohorts of patients from Western countries saw only a 33% reduction in the risk of progression or death, versus a 45% reduction in Chinese patients, with the Western group's benefit not being statistically significant. And that's precisely the kind of discrepancy that regulators at the U.S. Food and Drug Administration (FDA) are likely to take issue with before they decide whether to approve ivonescimab, slated for mid-November of this year.

Similarly, shortly before that readout, an FDA panel ruled that a largely Asian data set supporting another cancer drug was inapplicable to U.S. patients, a precedent that now shadows every China-heavy trial and, by extension, nearly all trials of candidates licensed from China. Summit filed with the FDA for a narrower second-line use indication in early 2026, giving up some of its grander ambitions for ivonescimab.

Investors who bet that Akeso's data would be easy for Summit to replicate, leading to a low-risk, easy approval process for ivonescimab in the U.S., have not fared well. The biotech's stock is down 35% in the last 12 months. This emerging risk contributed to that decline, alongside a broadly weak biotech market and ivonescimab's survival shortfall.

Big pharma is vulnerable, too This risk applies to major pharma companies and stocks as well.

For instance, Merck (MRK +2.75%) has leaned hard on Chinese innovation, including with a seven-drug deal with Kelun-Biotech worth $175 million up front and up to $9.3 billion in milestones. It hasn't experienced any of the same problems as Summit did, at least not yet.

Still, this problem is not a passing phase; China's latest five-year plan, approved in 2026, names biotechnology a "frontier" priority. The supply of licensable assets will only grow from here. Many of the U.S. biopharmas that rely on those assets will satisfy the FDA that their candidates are safe and effective. Others will hit the same wall Summit did: Global populations and the way clinical trial sites operate from one country to the next vary enough that some mismatches are inevitable.

The best way for investors to protect themselves is to ask where a company's value comes from before buying any shares. A business that discovers, develops, and manufactures its own drugs deserves a richer valuation than a stack of licensed-in bets because the licensee carries extra risks related to royalties going to the originator and whether foreign data clears the FDA.

That doesn't make Summit or its peers uninvestable, but it does mean that many clinical-stage stocks will look cheap because someone else has built most of their underlying value, which can be problematic.

Shares of Summit Therapeutics PLC (SMMT - Free Report) have gained 8.8% over the past four weeks to close the last trading session at $17.54, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $29.31 indicates a potential upside of 67.1%.

The mean estimate comprises 15 short-term price targets with a standard deviation of $12.01. While the lowest estimate of $7.70 indicates a 56.1% decline from the current price level, the most optimistic analyst expects the stock to surge 156.6% to reach $45.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

However, an impressive consensus price target is not the only factor that indicates a potential upside in SMMT. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why SMMT Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current year, four estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 10.4%.

Moreover, SMMT currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much SMMT could gain, the direction of price movement it implies does appear to be a good guide.

Summit Therapeutics Inc. (SMMT) Discusses Plenary Session Updates and Recent Clinical Data Following Major Oncology Congress Transcript

MIAMI--(BUSINESS WIRE)--Summit Therapeutics Inc. (NASDAQ: SMMT) today announced that it will participate in and present at the 47th Annual Goldman Sachs Global Healthcare Conference in Miami, Florida on Monday, June 8, 2026. Members of the Summit management team will participate in a fireside chat presentation at 10:00 AM ET, providing a corporate overview and update on recent progress, including the development of its innovative investigational bispecific antibody, ivonescimab.

The presentation will be available live through the company’s website: www.smmttx.com. An archived version of the presentation will be available on the website following the presentation.

About Summit Therapeutics Inc.

Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Summit was founded in 2003 and the company’s shares are listed on the Nasdaq Global Market (symbol "SMMT"). Summit is headquartered in Miami, Florida, with additional offices in Palo Alto, California, Princeton, New Jersey, Dublin, Ireland, and Oxford, UK.

For more information, please visit https://www.smmttx.com and follow Summit on X @SMMT_TX.

Summit Forward-Looking Statements

Any statements in this press release about the Company’s future expectations, plans and prospects, including but not limited to, statements about the clinical and preclinical development of the Company’s product candidates, entry into and actions related to the Company’s partnership with Akeso Inc. and other collaborations, the intended use of the net proceeds from the private placements, the Company's anticipated spending and cash runway, the therapeutic potential of the Company’s product candidates, the potential commercialization of the Company’s product candidates, the timing of initiation, completion and availability of data from clinical trials, the potential submission of applications for marketing approvals, the expected timing of BLA submissions or FDA decisions, potential acquisitions, statements about the previously disclosed At-The-Market equity offering program (“ATM Program”), the expected proceeds and uses thereof, the Company’s estimates regarding stock-based compensation, and other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "would," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the Company’s ability to sell shares of our common stock under the ATM Program, the conditions affecting the capital markets, general economic, industry, or political conditions, including the effects of geopolitical developments, domestic and foreign trade policies, and monetary policies, the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company’s pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the "Risk Factors" and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of filings that the Company makes with the Securities and Exchange Commission. Summit defines a “positive study” as a clinical study that with one or more prespecified primary endpoints in which one of those endpoints achieves a statistically significant benefit according to the protocol or statistical analysis plan. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release.

Summit Therapeutics and the Summit Therapeutics logo are registered trademarks of Summit Therapeutics Inc. and/or its affiliates. Copyright 2026, Summit Therapeutics Inc. All Rights Reserved.

© ipopba / iStock via Getty Images

After years of lagging the market, healthcare may be taking on a new role in investor portfolios.

Speaking on CNBC, Mizuho healthcare strategist Jared Holz reframed the sector, arguing that years of underperformance have turned drug stocks from a defensive holding into something more interesting for growth-heavy portfolios. “I think you just have to look at health care as almost like a value sector,” Holz said, pointing to drug pricing pressure and managed care headwinds that have dragged on large-cap pharma while tech ripped higher.

The performance gap is hard to argue with. The Nasdaq-100 is up 63.91% over the past two years, while Merck stock has slipped 4.32% over the same window.

The Case for Healthcare as Value Many investors have spent the past several years concentrating heavily in technology, particularly AI-related stocks. As those positions have grown, healthcare has increasingly become the place where valuations appear more reasonable, and expectations have fallen.

“If you’re very, very full to the gills with growth and you want to take a little bit off and you’re trying to find some names that have underperformed, that’s really what it’s come down to,” Holz said.

He stopped short of predicting a major healthcare rally: “It’s sort of like it’s cheap. I’m not sure what it’s going to do. But if you want to take a small position as an offset, I guess.”

Holz is suggesting healthcare may serve as a counterbalance for investors whose portfolios have become heavily tilted toward growth and AI-related names.

Merck Could Be Interesting for Its Keytruda Franchise For investors looking at large-cap pharmaceuticals, Holz pointed to Merck (NYSE:MRK | MRK Price Prediction) as one of the clearest examples of a value opportunity. The stock trades at a forward P/E of 23 and carries a 2.74% dividend yield, while Wall Street’s average analyst price target of $129.74 sits above the current $115.17 price.

The bigger story, however, remains Merck’s flagship immunotherapy drug, Keytruda. “The thing that is sort of most resonating, maybe, is just the power of Merck’s Keytruda and the fact that there are so many companies that are using Keytruda as the backbone for their therapy. No one can seem to get the results that they want in monotherapy,” Holz said at ASCO. That dynamic forces would-be challengers into partnership rather than head-on competition.

Merck’s Q1 2026 revenue came in at $16.29 billion, beating the $15.82 billion estimate, with Keytruda franchise sales of $8.03 billion, up 12%. Merck raised its 2026 guidance to $65.8 billion to $67.0 billion in revenue and $5.04 to $5.16 in non-GAAP EPS.

Summit Represents a Higher-Risk Alternative Summit Therapeutics (NASDAQ:SMMT) sits at the other end of the spectrum, as a $12.48 billion market cap clinical-stage biotech trying to build a Keytruda challenger with ivonescimab, a bispecific PD-1/VEGF antibody licensed from Akeso. Shares are down 13.75% over the past year, with the analyst average target at $28.47 against a $15.71 close.

Summit presented HARMONi-6 overall survival data at the ASCO 2026 Plenary on May 31, and an FDA PDUFA decision on ivonescimab for EGFR-mutated NSCLC is set for November 14, 2026. Holz highlighted one of the key debates surrounding the story. Much of the company’s strongest data has come from studies conducted in China, raising questions about how those results will translate to Western patient populations and regulators. With $598.7 million in cash against a quarterly burn of $114.7 million, the runway is adequate, but the binary risk is real.

What to Watch Analyst Jared Holz sees value emerging after years of underperformance.

For investors whose portfolios have become increasingly concentrated in AI, software, and mega-cap technology stocks, healthcare offers exposure to a different set of drivers at valuations that often look more reasonable. Merck represents the higher-quality, cash-generating version of that idea, while Summit represents the higher-risk, catalyst-driven version.

MIAMI--(BUSINESS WIRE)--Summit Therapeutics Inc. (Nasdaq: SMMT) (“Summit,” “we,” or the “Company”) today announced that it has commenced an underwritten public offering of $500.0 million of shares of its common stock. All of the shares in the proposed offering are being offered by Summit. In addition, Summit intends to grant the underwriters a 30-day option to purchase up to an additional $75.0 million of shares of its common stock at the public offering price, less underwriting discounts and commissions. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Summit intends to use the net proceeds from the proposed offering, together with its existing cash, cash equivalents, to fund the research and development of its lead product candidate, ivonescimab, and for working capital and other general corporate purposes.

J.P. Morgan, Goldman Sachs & Co. LLC and Citigroup are acting as joint book-running managers for the proposed offering.

The securities described above are being offered by Summit pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was previously filed with the Securities and Exchange Commission (SEC) and which became automatically effective on June 9, 2026. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus may also be obtained, when available, from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] and [email protected]; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at [email protected]; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Summit Therapeutics

Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Summit was founded in 2003 and our shares are listed on the Nasdaq Global Market (symbol “SMMT”). We are headquartered in Miami, Florida, and we have additional offices in Palo Alto, California, Princeton, New Jersey, Dublin, Ireland, and Oxford, UK.

For more information, please visit https://www.smmttx.com.

Forward-looking Statements

Any statements in this press release about uncertainties related to market conditions and statements regarding the timing, size and expected gross proceeds of the offering, the satisfaction of customary closing conditions related to the offering and sale of securities, the grant to the underwriters of an option to purchase additional shares and the Company’s ability to complete the offering, and other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including conditions affecting the capital markets and the satisfaction of closing conditions related to the proposed public offering, the grant to the underwriters of the option to purchase additional shares, timing and size of the proposed offering and Summit’s intended use of proceeds therefrom, general economic, industry, or political conditions, the results of our evaluation of the underlying data in connection with the development and commercialization activities for ivonescimab, the outcome of discussions with regulatory authorities, including the Food and Drug Administration, the uncertainties inherent in the initiation of future clinical trials, availability and timing of data from ongoing and future clinical trials, the results of such trials, and their success, and global public health crises, that may affect timing and status of our clinical trials and operations, whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials or preclinical studies will be indicative of the results of later clinical trials, whether business development opportunities to expand the Company’s pipeline of drug candidates, including without limitation, through potential acquisitions of, and/or collaborations with, other entities occur, expectations for regulatory approvals, laws and regulations affecting government contracts and funding awards, availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements and other factors discussed in the “Risk Factors” section of filings that the Company makes with the SEC. Any change to our ongoing trials could cause delays, affect our future expenses, and add uncertainty to our commercialization efforts, as well as to affect the likelihood of the successful completion of clinical development of ivonescimab. Accordingly, readers should not place undue reliance on forward-looking statements or information. In addition, any forward-looking statements included in this press release represent the Company’s views only as of the date of this release and should not be relied upon as representing the Company’s views as of any subsequent date. The Company specifically disclaims any obligation to update any forward-looking statements included in this press release. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see the prospectus supplement and related prospectus for this offering as well as the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other reports filed with the SEC.

Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) on Wednesday introduced four new in-house chips designed to support artificial intelligence workloads, part of the company’s broader effort to expand data center capacity and reduce reliance on third-party hardware.

The chips belong to Meta’s Meta Training and Inference Accelerator (MTIA) family, a line of custom silicon the company first revealed in 2023 and updated with a second generation in 2024.

The first of the newly announced processors, MTIA 300, was deployed several weeks ago.

According to Meta, the chip is designed to train smaller AI models that power ranking and recommendation systems across its platforms, including Facebook and Instagram. These systems help determine which content and advertisements users see in their feeds.

Meta also outlined plans for three additional chips, MTIA 400, MTIA 450 and MTIA 500, which are aimed at more advanced generative AI inference tasks. Those workloads include creating images or videos based on user prompts. The chips are not intended for training large-scale language models, the company said.

In a blog post describing its roadmap, Meta said recent and planned MTIA generations are intended to improve generative AI inference performance while also supporting ranking and recommendation training.

The company added that the architecture uses a modular, multi-chiplet design that is co-developed with its software stack, allowing performance improvements while maintaining compatibility across systems.

Shares of Meta edged down 0.6% at about $650 following the announcement.

Jefferies has reiterated its 'buy' rating on Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF), the London-listed grocery property investor, with a 90p...

The supermarket-focused property trust has refinanced near-term debt by upsizing a syndicated loan backed by five banks

Supermarket Income REIT PLC (LSE:SUPR, OTC:SUPIF), the real estate investment trust focused on grocery properties, has increased a secured term loan for its joint venture with Blue Owl Capital, the US asset manager, by £222 million to £437 million.

The five-bank syndicate behind the facility includes Barclays, HSBC, ING, and two new lenders, Lloyds and Crédit Agricole CIB.

The interest-only loan matures in June 2028, with two one-year extension options at the lenders' discretion, and carries an all-in fixed rate of 5.24%, priced at a margin of 1.65% above SONIA, the sterling overnight lending benchmark.

Supermarket Income REIT will receive half the proceeds, which will be used to cover near-term debt maturities, leaving the company with a loan-to-value ratio of 43%, including joint venture debt.

Mike Perkins, chief financial officer of Supermarket Income REIT, said the transaction reflected good access to capital and strong lender appetite for top-performing grocery real estate.

Believe it or not, earnings season is once again upon us, and some crucial large-cap stocks like Tesla, American Express, and Intel already reported results this week.

However, the earnings party began early for the five companies we'll be discussing today, which handily beat top- and bottom-line projections.

And despite the outsized pop each company's stock received following its earnings report, there's fundamental or technical evidence that the momentum underlying the moves has the strength to carry into the second half of 2026.

Here are the five “earnings heroes” with more room to run.

GE Verona Inc.The standout number remains the backlog; management announced a 2027 backlog of more than $200 billion, a figure it didn't expect to reach until 2028. The Electrification backlog stands at $42 billion, and the company booked more than $2.4 billion in data center equipment orders in Q1 2026. The stock received seven price target boosts following the earnings release, including a new Street-high target of $1,400 from Baird.

Intuitive Surgical Inc.But ISRG's fortunes could be changing: the company had a fabulous Q1 2026, notching a 30% upside surprise on EPS and 23% YOY revenue growth. The company also expects 15% growth in procedures done using the Da Vinci machine after placing 431 new units into service in 2025.

Despite its near-monopoly, Intuitive Surgical is in the midst of a massive drawdown, losing more than 15% YTD. The post-earnings pop finally took shares back above the 50-day moving average, and there's hope this rally sticks, considering the bullish activity on the RSI and MACD. Intuitive Surgical has the earnings tailwinds; now it needs technical momentum to finally break out of this rut, and it looks like it’s about to get it.

Masco Corp.MAS shares bottomed out in March before the earnings release, but an uptrending MACD spotted the change in investor behavior right near the low. Both the MACD and RSI had been trending upward since the bottom formed, and the breakout has now taken the share price back above the 50-day and 200-day moving averages. One area of concern: the RSI is approaching extreme overbought territory, which could signal that a pullback is on the horizon.

However, BSX is showing signs of a reversal of this downswing. The company had a modest Q1 2026 EPS and revenue beat, and sales grew by more than 11% in the period. And despite lowering its organic growth guidance projections for 2026, the stock rallied through its long-term downtrend line to put up its best performance in months.

The RSI and MACD also hint at bullish energy. The MACD formed a crucial bullish cross more than two months ago in February, and the RSI appears to be finally taking a meaningful bounce above the Oversold threshold. If the drawdown is halted here, the stock has lost nearly 40% of its value since September 2025, which gives brave investors plenty of upside.

Rogers Communications Inc.RCI shares jumped 13.6% following the report, shaking off the downward momentum and retaking the 200-day moving average. The secondary indicators are also turning bullish, and a move back above the 50-day moving average could likely re-ignite the buying pressure.

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Ethernet cables are seen in front of Rogers Communications logo in this illustration taken, July 8, 2022. REUTERS/Dado Ruvic/Illustrations/File Photo Purchase Licensing Rights, opens new tab

CompaniesApril 27 - Canadian telecom operator Rogers Communications (RCIb.TO), opens new tab is offering voluntary departure packages to half ​of its 25,000 employees, the Globe and ‌Mail reported on Monday.

Here are some details:

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Rogers on Monday said employees across numerous business divisions will be offered packages, but ​did not say whether it had a ​reduction target, according to the report.

"We are taking ⁠steps to adjust our cost structure to reflect ​the business realities of the current environment. As part ​of this, some teams have chosen to offer voluntary departure and retirement programs to give some employees the choice to ​decide whether they'd like to stay with the ​company or begin a new chapter," Rogers spokesperson Zac Carreiro told ‌the ⁠Globe and Mail.

Some teams across the company including on-air talent, Sportsnet employees at Rogers Sports and Media and union employees are not eligible, the report said.

Rogers ​did not ​immediately respond ⁠to a Reuters request for comment.

Earlier this month, Rogers forecast 2026 capital expenditure about ​30% below 2025 levels, as it reins ​in ⁠spending amid a tough pricing environment.

Separately, Microsoft (MSFT.O), opens new tab is planning its first voluntary employee buyout in the Windows maker's ⁠51-year ​history for a small percentage of ​its U.S. employees, according to sources familiar with the matter.

Reporting by ​Juby Babu in Mexico City; Editing by Sahal Muhammed

Our Standards: The Thomson Reuters Trust Principles., opens new tab

HOUSTON--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today filed its Form 10-Q and reported results for the fiscal 2026 first quarter ended December 31, 2025. Summary Financials (in millions, except EPS) 1Q26 1Q25 Total revenues $70.8 $71.5 EPS $(0.57) $1.01 Non-GAAP EPS1 $0.74 $0.80 Net cash provided by operating activities $7.8 $13.3 Free cash flow1 $6.7 $12.1 Net income (loss) attributable to RCIHH common stockholders $(4.7) $9.0 Adjusted EBITDA1 $15.7 $15.7 Weighted avera.

RCI Hospitality Holdings, Inc. reported weak Q1 results across segments. RICK's organic nightclub revenues are on a decline, as young people drink less alcohol. The trend pressures RICK's earnings significantly. Bombshells hasn't stabilized yet despite significant turnaround efforts. The segment turned to an operating loss in Q1.

Company completes $22 million network build to boost connectivity for fans at soccer’s biggest event

Crew of 30 spent almost 40,000 hours planning and installing new network infrastructure

TORONTO, May 14, 2026 (GLOBE NEWSWIRE) -- As Toronto gets ready to welcome global soccer fans, Rogers today announced $22 million of upgrades to the 5G+ network at BMO Field and surrounding areas to bring visitors and local residents a world-class network experience.

“As Canada’s best 5G+ network, we’re committed to bringing fans the best experience, whether they’re at the stadium or in a fan zone,” said Mark Kennedy, Chief Technology Officer, Rogers. “These enhancements ensure our network is ready for global events like FIFA, while delivering long-term benefits for the local Toronto community.” 

5G+ networks are critical to support the large number of fans at live stadium events, delivering faster speeds, lower latency and more capacity. 

Improvements to bring the latest 5G+ technology to soccer fans in Toronto include:

Enhancing the in-stadium wireless system, the equivalent of adding 16 cell towers in downtown TorontoDeploying additional 5G+ spectrum to deliver faster speeds and more capacity for fans in the venueInstalling additional network infrastructure outside the stadium and at fan zone locations throughout the city, as well as hotels and transportation hubs including Pearson International Airport, Union Station and some TTC subway stations
The company is also deploying Cells on Wheels and Cells on Light Facilities to support high-traffic areas in downtown Toronto. These temporary cell sites deliver faster speeds, lower latency and greater reliability for customers during the tournament. 

In Vancouver, Rogers is investing $5 million to enhance network coverage in key areas across the city, including at BC Place, to boost connectivity for soccer’s biggest event.

Rogers 5G+ Ultimate plan customers can experience Priority Network Access, giving customers front of the line access to our fastest speeds available even at peak times. Priority Network Access is the first and only service of its kind in Canada for consumers. 

About Rogers Communications Inc.
Rogers is Canada’s communications, sports and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.

For more information:
[email protected]
1-844-226-1338

HOUSTON--(BUSINESS WIRE)--On May 20, 2026, RCI Hospitality Holdings, Inc. (Nasdaq: RICK) received an anticipated letter from the Nasdaq Stock Market notifying the Company of its noncompliance with Listing Rule 5250(c)(1) requiring the timely filing of reports with the SEC. RCI has not yet filed its Form 10-Q for the second quarter ended March 31, 2026. Nasdaq's letter has no immediate effect on the Company's common stock listing. Under Nasdaq's rules, RCI has until July 20, 2026, to file its 10.

HOUSTON--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today filed its Form 10-Q and reported results for the fiscal 2026 second quarter ended March 31, 2026. Summary Financials (in millions, except EPS) 2Q26 2Q25 6M26 6M25 Total revenues $68.7 $65.9 $139.6 $137.4 EPS $(0.04) $0.36 $(0.63) $1.38 Non-GAAP EPS1 $0.78 $0.65 $1.52 $1.46 Impairments and other charges, net $7.6 $2.1 $7.9 $(0.1) Net cash provided by operating activities $9.9 $8.5 $17.7 $21.9 Free cash flow1 $8.4 $6.9.

HOUSTON--(BUSINESS WIRE)--RCI Hospitality Holdings, Inc. (Nasdaq: RICK) announced today it has declared a quarterly cash dividend of $0.08 per common share for the fiscal 2026 third quarter ending June 30, 2026. The 3Q26 dividend is payable June 30, 2026, to holders of record at the close of business June 15, 2026. This marks RCI's 42nd consecutive quarter of paying cash dividends. Over that time, the quarterly dividend has increased by 166.7% from $0.03 per share since it was initiated in the.

Company also again awarded most reliable wireless network in Canada June 04, 2026 08:00 ET  | Source: Rogers Communications Canada Inc.

TORONTO, June 04, 2026 (GLOBE NEWSWIRE) -- Rogers Communications today announced that it has once again been ranked the best and most reliable 5G+ network by umlaut.

“We are focused on delivering the best network experience to our customers along with the most coverage with Rogers Satellite,” said Mark Kennedy, Chief Technology Officer. “This award reinforces our leadership in bringing Canadians the best, most reliable 5G+ network in the country.”

Umlaut is a global leader in independent network performance benchmarking. The ranking is based on umlaut’s Mobile Certificate and Audit Report, which show Rogers wireless customers enjoy the best network performance in the country.

In addition to being awarded the “Best in Test” wireless benchmark award for the eighth straight year, Rogers scored the top performance in voice, data and reliability for wireless networks.  Rogers has led on umlaut’s most reliable wireless network ranking since it was first introduced in 2021.

“We are committed to delivering the best wireless plans and value for Canadians,” said Anne Martin-Vachon, President, Wireless. “We are proud to bring customers the best 5G+ network along with services no other Canadian carrier offers like Priority Network Access and satellite-to-mobile.”

5G+ is the latest 5G technology, delivered through mid-band spectrum. Rogers 5G+ is powered by 3800 MHz and 3500 MHz spectrum, providing customers with faster speeds and more capacity. This mid-band spectrum complements Rogers 600 MHz low-band 5G spectrum, creating consistent and reliable 5G coverage.

About Rogers Communications

Rogers is Canada’s communications, sports and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.

For more information:
[email protected]
1-844-226-1338

On May 11, 2026, Aptiv PLC APTV shares fell 4.4% to $55.41, continuing a downward trend that has seen a decrease of 14.0% year-to-date. The stock has traded within a 52-week range of $52.11 to $75.33, reflecting volatility in market sentiment.

GF Value™ verdict: Current price of $55.41 is 25.7% below GF Value™ estimate of $74.56.GF Score™ of 86/100 indicates a strong overall performance relative to peers.Notable signal: Financial Strength rank of 5/10 suggests moderate stability. Is APTV Overvalued or Undervalued? Aptiv PLC's current share price of $55.41 is significantly below the GF Value™ estimate of $74.56, indicating that the stock is undervalued by approximately 25.7%. This disparity presents a potential opportunity for investors who may be looking for stocks trading below their intrinsic value. The GF Valuation label categorizes APTV as "Modestly Undervalued," which suggests that while there is room for price appreciation, investors should remain cautious regarding market trends and economic conditions that could impact future performance.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current valuation, investors may find a margin of safety, but it is important to consider the risks associated with the stock's recent price decline and overall market performance.

How Does APTV's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 32.8x 35.8x Forward P/E 7.9x N/A Currently, APTV's P/E (TTM) of 32.8x is below its 5-year median P/E of 35.8x, suggesting that the stock is trading at a lower valuation compared to its historical performance. The forward P/E of 7.9x further reinforces the notion that the stock may be undervalued. This P/E analysis aligns with the GF Value™ verdict, indicating potential for price appreciation based on historical metrics.

What Does APTV's GF Score™ Tell Us? Metric Rating GF Score™ 86/100 Financial Strength 5/10 Profitability 9/10 Growth 6/10 Valuation 8/10 Momentum 7/10 The GF Score™ of 86/100 indicates a strong overall performance, particularly in the Profitability category where it rates 9/10, suggesting robust earnings potential. However, the Financial Strength score of 5/10 indicates some concerns regarding balance sheet stability. The scores across other categories—Growth (6/10), Valuation (8/10), and Momentum (7/10)—highlight a well-rounded profile, but investors should pay attention to the areas where APTV may need improvement.

What Are Insiders Doing with APTV Stock? In recent months, there have been no insider transactions reported for Aptiv PLC. This lack of insider activity suggests that current executives may not be making significant moves in response to the stock's recent performance, which can be interpreted as a signal of confidence or a neutral stance towards the company's future prospects.

What This Means for Investors Based on the GF Value™ analysis, Aptiv PLC is currently undervalued, presenting a potential opportunity for investors looking for stocks with intrinsic value significantly above market price. However, investors should remain vigilant regarding market conditions and the company's performance trends.

For the complete analysis, visit the Aptiv PLC APTV stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is APTV's GF Score™?

APTV's GF Score™ is 86/100, indicating a strong overall performance relative to its peers, suggesting potential for higher long-term returns.

Is APTV overvalued or undervalued?

APTV is currently undervalued, with a GF Value™ of $74.56 compared to its market price of $55.41.

What is APTV's P/E ratio?

APTV's P/E (TTM) is 32.8x, which is below its 5-year median P/E of 35.8x, indicating that the stock is trading at a lower valuation compared to its historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Aptiv PLC (APTV - Free Report) .

APTIV PLC currently has an average brokerage recommendation (ABR) of 1.31, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 24 brokerage firms. An ABR of 1.31 approximates between Strong Buy and Buy.

Of the 24 recommendations that derive the current ABR, 20 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 83.3% and 8.3% of all recommendations.

Brokerage Recommendation Trends for APTV

Check price target & stock forecast for APTIV PLC here>>>

While the ABR calls for buying APTIV PLC, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.

Should You Invest in APTV?In terms of earnings estimate revisions for APTIV PLC, the Zacks Consensus Estimate for the current year has declined 20.9% over the past month to $6.33.

Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #5 (Strong Sell) for APTIV PLC. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, it could be wise to take the Buy-equivalent ABR for APTIV PLC with a grain of salt.

Aptiv PLC (APTV - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Over the past month, shares of this company have returned -7.6%, compared to the Zacks S&P 500 composite's +5.5% change. During this period, the Zacks Technology Services industry, which APTIV PLC falls in, has gained 0.6%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

APTIV PLC is expected to post earnings of $1.43 per share for the current quarter, representing a year-over-year change of -32.6%. Over the last 30 days, the Zacks Consensus Estimate has changed -32.6%.

The consensus earnings estimate of $6.34 for the current fiscal year indicates a year-over-year change of -18.9%. This estimate has changed -23.2% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $7.01 indicates a change of +10.5% from what APTIV PLC is expected to report a year ago. Over the past month, the estimate has changed -21.2%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, APTIV PLC is rated Zacks Rank #5 (Strong Sell).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.

For APTIV PLC, the consensus sales estimate for the current quarter of $3.31 billion indicates a year-over-year change of -36.5%. For the current and next fiscal years, $14.93 billion and $13.71 billion estimates indicate -26.8% and -8.2% changes, respectively.

Last Reported Results and Surprise HistoryAPTIV PLC reported revenues of $5.09 billion in the last reported quarter, representing a year-over-year change of +5.4%. EPS of $1.71 for the same period compares with $1.69 a year ago.

Compared to the Zacks Consensus Estimate of $5.02 billion, the reported revenues represent a surprise of +1.27%. The EPS surprise was +5.56%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.

Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.

The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

APTIV PLC is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about APTIV PLC. However, its Zacks Rank #5 does suggest that it may underperform the broader market in the near term.