Summit Therapeutics' ivonescimab looks materially de-risked after beating Keytruda on overall survival. Partner Akeso said ivonescimab monotherapy showed a statistically significant survival benefit over Keytruda in PD-L1+ advanced lung cancer in China's Phase III HARMONi-2 trial, the first drug to do so head-to-head, answering the global HARMONi survival miss ahead of a November 14 FDA decision date. Insider buying, notably by Robert Duggan, and large short interest add to the setup. x.com  … Show more

Summit Therapeutics' leaders bought at the lows, a strong signal ahead of the November 14 FDA decision date for ivonescimab. Co-CEO Robert Duggan bought 3.81M shares twice at $13.12, about $100M, the same week Summit pulled a $500M stock offering, choosing personal cash over dilution. Phase 3 HARMONi-6 showed ivonescimab cut the risk of death 34% versus tislelizumab combinations in first-line squamous NSCLC. A pennant breakout above $15.88 could run toward the $20s. x.com  x.com 

Summit Therapeutics now looks too bubbly to keep holding. As a single-drug company it is too binary and risky, since competition could outdo that drug at any time. It was attractive at the right price, but no longer. x.com 

Crescent Biopharma is a speculative bet that could be a huge winner if its PD-1/VEGF antibody, similar to Summit Therapeutics', shows data as good or better. The program is only in phase 1, but the company trades at 5% of Summit's market cap and has a broader pipeline, which justifies risking a little. x.com 

Celsius Holdings looks cheap to its own insiders, and most people are sleeping on the company. The CEO, two directors and the President and COO bought roughly $2.5M of stock combined at about $28 a share, including $700K from the CEO and $1M from one director, per @meetblossomapp. Insiders putting their own money in on that scale signals someone thinks the stock is cheap. x.com  x.com 

Grab's CEO made huge purchases of the stock yesterday, a sign the bottom may be in. x.com