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

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 

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 

Summit Therapeutics' two co-CEOs bought a massive $100M of stock at the lows, and insiders keep buying, a sign something is cooking. After a 30% fall over the past year the shares are cheap, and cheap is when to buy. x.com  x.com 

Biodesix's technology could become strategically important to multiple acquirers as more multicancer screening finds lung nodules needing risk stratification. Its shares trade at 2.63x gross profit, and growth should reach 23-24% when it reports on November 5. Chief Scientific Officer Gary Pestano's November 11 MRD talk is another point to watch. Permanent capital loss remains possible. x.com 

The year-end price target for biotech stocks is raised to $200 after a Bloomberg report that former FDA oncology chief Richard Pazdur is under consideration to return to the agency. x.com