There's the reason:
Summit Therapeutics' shares plummeted on Friday. The reason for this was a report by the specialist portal Stat News, according to which the survival data from an ongoing study on the experimental lung cancer drug Ivonescimab failed to meet expectations. BioNTech shares also crashed, as the Mainz-based company is working on a similar cancer immunotherapy.
Specifically, it concerns an interim analysis of the study: after the death of 157 patients, it was shown that Ivonescimab only reduced the risk of death by around 22 percent - with a hazard ratio of 0.784. The hazard ratio is a statistical parameter that indicates how much a drug reduces the risk of a certain event - in this case death - compared to the control group.
A value of 1.0 means: no difference between the groups.
A value of less than 1.0 indicates: the risk is lower with treatment.
The closer to 0, the better the effectiveness.
The cancer drug has therefore not had the desired impact and has also fallen well short of analysts' expectations: Truist expert Asthika Goonewardene had set a ratio of less than 0.7 in his baseline estimate at the beginning of April. A ratio of 0.8 was considered his worst-case scenario.
Summit Therapeutics shares plummeted by almost 40 percent on Friday and were even suspended from trading. BioNTech shares were also hit hard, falling by more than 20 percent. The reason: BioNTech's active ingredient Gotistobart is comparable to Ivonescimab, threatening similarly poor results.
Summit Therapeutics' shares plummeted on Friday. The reason for this was a report by the specialist portal Stat News, according to which the survival data from an ongoing study on the experimental lung cancer drug Ivonescimab failed to meet expectations. BioNTech shares also crashed, as the Mainz-based company is working on a similar cancer immunotherapy.
Specifically, it concerns an interim analysis of the study: after the death of 157 patients, it was shown that Ivonescimab only reduced the risk of death by around 22 percent - with a hazard ratio of 0.784. The hazard ratio is a statistical parameter that indicates how much a drug reduces the risk of a certain event - in this case death - compared to the control group.
A value of 1.0 means: no difference between the groups.
A value of less than 1.0 indicates: the risk is lower with treatment.
The closer to 0, the better the effectiveness.
The cancer drug has therefore not had the desired impact and has also fallen well short of analysts' expectations: Truist expert Asthika Goonewardene had set a ratio of less than 0.7 in his baseline estimate at the beginning of April. A ratio of 0.8 was considered his worst-case scenario.
Summit Therapeutics shares plummeted by almost 40 percent on Friday and were even suspended from trading. BioNTech shares were also hit hard, falling by more than 20 percent. The reason: BioNTech's active ingredient Gotistobart is comparable to Ivonescimab, threatening similarly poor results.
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@Multibagger As you can see today, some of the reactions on the market are exaggerated. A similar active ingredient does not have much to say in terms of results. It's the details that count... I'm already looking forward to the next releases from BioNTech. I bought another 10 on Friday.
PS: $ADYEN figures will be released on Wednesday👆 Vola ahead 😁
PS: $ADYEN figures will be released on Wednesday👆 Vola ahead 😁
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•@TomTurboInvest you go long on Adyen. Last time it worked out great 80% in one day with the right derivative. If the figures are good again, it will go up 20% again. However, KOs are already hot. But base 1200 should be pretty risk-free.
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•@Multibagger If I go in, then long. I entered the share with 3 shares today to warm up, let's see what happens intraday😀
But Adyen will most likely be very volatile as always with the figures
But Adyen will most likely be very volatile as always with the figures
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