This morning I’ve decided to stop with the jokes and address a serious topic… cancer has touched almost everyone. Whether it’s a parent, a friend, or in my case, my grandmother, whose life was cut short way too early. It’s a disease that doesn’t discriminate, doesn’t ask permission, and leaves heartbreak in its wake.

So when a company makes real progress in fighting back… not just with big promises, but actual clinical wins… it deserves our attention.

You’ve probably heard of Summit Therapeutics… a company that’s quietly (well, not so quietly anymore) been on a tear. Over the last year, its stock is up a mind-bending 524%, and the reason isn’t hype. It’s hope. Specifically, hope in the form of a drug called ivonescimab… a mouthful to say, but a potential lifesaver in the making.

Ivonescimab is a bispecific antibody, which in biotech terms means it’s like a sniper with two scopes… targeting VEGF (which helps tumors grow blood vessels) and PD-1 (a checkpoint protein cancer uses to hide from the immune system). Two birds, one biologic stone.

Summit didn’t actually invent the drug… it licensed it from Akeso, a Chinese biopharma player. But Summit owns the rights to sell it in the U.S., Europe, and pretty much every lucrative corner of the world except China.

And now, the drug is proving itself in a big way. In a recent Phase 3 trial in China, ivonescimab combined with chemotherapy outperformed Tevimbra (a BeiGene cancer drug) in patients with advanced squamous non-small cell lung cancer (NSCLC). The study showed a statistically significant improvement in progression-free survival… aka, the cancer was stopped in its tracks for longer. That’s no small win. NSCLC is the most common type of lung cancer… and lung cancer is the leading cause of cancer death globally. Progress here isn’t just exciting… it’s potentially life-changing.

A few weeks ago, the market had a mini-freakout after Summit updated results from another Phase 3 trial… this time putting ivonescimab head-to-head with Keytruda, the GOAT of immuno-oncology.

And no, ivonescimab didn’t blow Keytruda out of the water in overall survival… yet. But context matters. This drug has already beaten another FDA-approved treatment (Tevimbra) and is in over a dozen clinical trials. It’s not a one-trick pony. Think of it more as a pipeline-in-a-drug, with potential label expansions across various cancers.

The good thing is it doesn’t have to beat Keytruda to be a success. Even a second-place finish in a $50 billion market would be a win for Summit… and for patients.

From a financial perspective, Summit is surprisingly solid for a clinical-stage biotech. They just reported a Q1 loss of $62.9 million, which isn’t great… but they’re sitting on $361 million in cash, have no debt, and a current ratio of 10.15. So, they’re not in danger of running out of runway anytime soon.

Analysts are noticing. Cantor Fitzgerald reiterated its Overweight rating. Goldman Sachs just increased its price target from $37 to $41, signaling continued confidence in ivonescimab’s blockbuster potential.

Yes, the stock is volatile… that’s the nature of biotech. But with a beta of -0.46, it actually tends to move opposite the market, which could give your portfolio a bit of zig while everything else zags. After a 5X run in a year, it’s fair to wonder if this rocket already left the launch pad. But if you’re in it for the long term… and can stomach the volatility there’s still runway here.

Stocks.News has positions in Summit Therapeutics and Merck.