US Stock of the Day | Kabutaro & Friends

On September 29, 2026, the most talked-about US stock online is Summit Therapeutics<SMMT>.
Background: On September 28, AstraZeneca announced a $2 billion equity investment in Summit. It will buy convertible preferred shares at a price equivalent to $18.36 per share, a 10% premium to the five-day volume-weighted average price, giving it about 12% ownership upon conversion. The focus is ivonescimab, a cancer drug whose rights outside China Summit acquired from China's Akeso in 2022. A bispecific antibody targeting both PD-1 and VEGF, it is approved in China to treat certain patients with non-small cell lung cancer, and its application for approval is under review in the U.S. The two companies also plan to start clinical trials in gastrointestinal cancers combining an AstraZeneca antibody-drug conjugate (ADC) with ivonescimab. Summit shares jumped in premarket trading on September 29, with gains reported at 17% to 23%.