Acquisition InterestSMMT loses a key potential acquirer with Bristol Myers Squibb backing BioNTech, reducing potential acquisition interest from large pharma companies.
Competitive LandscapeConsensus estimates assume an unrealistic share of the current anti-PD(L)1 total addressable market, given the intense and heterogeneous competitive landscape.
PartnershipsSummit is by far the worst-positioned and will need a major partnership beyond their antibody drug conjugate collaboration with Pfizer to succeed.