Shares of Summit Therapeutics Inc. (SMMT) experienced a sharp rise in today’s pre-market trading, fueled by the company’s announcement regarding the positive results of a clinical trial for its cancer drug, Ivonescimab. The trial showed that Ivonescimab monotherapy reduced the risk of disease progression or death by 49% compared to pembrolizumab monotherapy in the first-line treatment of patients with PD-L1 positive advanced NSCLC (non-small cell lung cancer) in China. This positive news propelled Summit Therapeutics shares to an impressive 38.8% jump, reaching $16.99 in pre-market trading.
Beyond Summit Therapeutics, several other companies saw notable movement in pre-market trading. Intelligent Bio Solutions Inc. (INBS) saw its shares gain 72.7% to $2.73, following a 20% increase on Friday. Tonix Pharmaceuticals Holding Corp. (TNXP) experienced a 48.8% rise to $0.2120, recovering from a 10% dip on Friday. Nuburu, Inc. (BURU) also saw a significant surge, gaining 48% to $0.7650 after falling 16% on Friday.
On the other hand, Wheeler Real Estate Investment Trust, Inc. (WHLR) witnessed a substantial decline of 21.3% to $8.06 in pre-market trading. This drop followed a remarkable 148% jump on Friday after the company and its subsidiary, Cedar Realty Trust, announced that the United States Court of Appeals for the Fourth Circuit upheld a 2023 order dismissing a class action lawsuit. Golden Minerals Company (AUMN) shares also fell, dropping 18.2% to $0.2208, adding to a 10% decline from the previous day.
These pre-market movements highlight the dynamic nature of the stock market and the impact of various announcements and news events. Investors closely watch these pre-market fluctuations to gain insights into potential market trends and adjust their investment strategies accordingly.
