Biotech Alert: Searches spiking for these stocks today

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:

• Ocean Biomedical (OCEA), 231% surge in interest
• iBio (IBIO), 219% surge in interest
• Summit Therapeutics (SMMT), 177% surge in interest

Pipeline and key clinical candidates for these companies:

Ocean Biomedical is a biopharma company that says it “accelerates the development and commercialization of scientifically compelling assets from research universities and medical centers.” Ocean Biomedical is currently developing five discoveries that have “the potential to achieve life-changing outcomes in lung cancer, brain cancer, pulmonary fibrosis, and the prevention and treatment of malaria,” the company states.

iBio is a biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer and other hard-to-treat diseases. By combining proprietary 3D modeling with innovative drug discovery platforms, iBio is creating a pipeline of breakthrough antibody treatments to address significant unmet medical needs. Its mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine.

Summit Therapeutics is a biopharmaceutical oncology company focused on the discovery, development, and commercialization of patient-, physician-, caregiver- and societal-friendly medicinal therapies intended to improve quality of life, increase potential duration of life, and resolve serious unmet medical needs.

Recent news on these stocks:

August 27

H.C. Wainwright raised the firm’s price target on Summit Therapeutics to $50 from $44 and keeps a Buy rating on the shares. The firm believes Akeso’s (AKESF) HARMONi-A study for ivonescimab validates the China data. The study shows that that ivonescimab beats Keytruda, the analyst tells investors in a research note. H.C. Wainwright believes it is time to own shares of Summit Therapeutics, which is the Akeso’s partner in the U.S.

August 26

Akeso announced in its first half results that ivonescimab met the overall survival endpoint in the HARMONi-A final analysis. The company said, “During the reporting period, an interim analysis of the first global multicenter Phase III trial (HARMONi) also demonstrated strongly positive PFS outcomes. Although statistical significance for OS was not yet reached at the time of the announcement, a promising trend toward OS benefit was observed. With 38% of the patients enrolled from regions such as Europe and North America, the intent-to-treat survival outcomes were highly consistent with those from the China-based HARMONi-A study, supporting ivonescimab’s cross-regional consistency in efficacy and safety and enhancing its global market potential. Furthermore, following positive results from HARMONi-2-a randomized, double-blind, head-to-head Phase III trial against pembrolizumab monotherapy that led to its approval in first-line PD-L1-positive NSCLC, ivonescimab plus chemotherapy has now also demonstrated significant positive outcomes in another head-to-head Phase III study against tislelizumab plus chemotherapy in first-line squamous NSCLC. This clinical outcome demonstrates that ivonescimab shows significant clinical breakthroughs, whether compared to PD-1 monotherapy, or compared to PD-1 in combination with chemotherapy, or compared to VEGF-related therapies in the area of anti-angiogenesis. This highlights the remarkable capability of ivonescimab to make leapfrog advancements in cancer treatment.” Shares of Summit Therapeutics, Akeso’s U.S. partner on ivonescimab, traded lower after the news.

Hear more from InvestingChannel by signing up for The Spill.

About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.