#USA #New York #Pomerantz LLP #Ivonescimab #Summit Therapeutics

Investigation by Pomerantz LLP

On October 18, 2025, Pomerantz LLP, a renowned law firm specializing in corporate and securities litigation, announced an investigation on behalf of investors in Summit Therapeutics Inc. (NASDAQ: SMMT). This inquiry is aimed at examining allegations surrounding potential securities fraud and unlawful business practices involving the company's officers and directors.

Background of Summit Therapeutics

Summit Therapeutics is known for its progressive pharmaceutical developments, notably involving the drug ivonescimab. This drug was recently put to the test in a Phase III clinical trial named HARMONi, which sought to evaluate its efficacy in conjunction with chemotherapy. On May 30, 2025, the company shared that results from this trial indicated patients receiving ivonescimab alongside chemotherapy were 48% less likely to experience disease progression or mortality compared to those treated with chemotherapy alone. However, despite these findings, the drug did not meet the benchmark for overall survival – a critical measure in clinical trials assessing the length of life extension.

Impact on Stock Prices

In response to the mixed outcomes shared from the trial, the stock price of Summit Therapeutics experienced a sharp decline, plummeting $7.99 or approximately 30.5%, bringing the closing price down to $18.22 per share immediately following the announcement. This steep drop triggered alarm among investors, leading to heightened scrutiny over potential irregularities in reporting and communications from Summit’s management.

Additionally, on September 7, 2025, further data released from the trial indicated diminished effectiveness of ivonescimab among patients from North America and Europe, compared to those in other regions. Following this announcement, the company’s stock dipped again by $6.54, or 25.15%, closing at $19.45 on September 8, 2025. This pattern of declines underscores a troubling trend for investors relying on the company for profitability.

Pomerantz’s Role

Pomerantz LLP has a reputation for advocating on behalf of victims of corporate misconduct, including securities fraud. Founded by Abraham L. Pomerantz, a trailblazer in class action litigations, the firm has recovered substantial damages for class members over its 85-plus years of operation. With offices located in key financial centers like New York, Chicago, London, and Paris, the firm stands ready to assist investors in pursuing their claims against Summit Therapeutics.

Individuals who believe they have suffered losses due to their investment in Summit are encouraged to reach out to Danielle Peyton at Pomerantz for guidance on how to join the investigation and possibly consolidate their claims within a class action suit. Ms. Peyton can be contacted at [email protected] or by phone at 646-581-9980, ext. 7980.

Conclusion

The investigation launched by Pomerantz LLP serves as a critical reminder of the obligations public companies have to their investors, especially in terms of accurate financial reporting and transparency. The unfolding situation at Summit Therapeutics could be emblematic of broader issues facing the biopharmaceutical industry, particularly as the demand for drug efficacy and safety continues to rise among consumers, regulators, and investors alike. As the investigation progresses, stakeholders will keenly observe the actions of both the company’s leadership and legal representatives in navigating these serious allegations.