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Summit Therapeutics (SMMT) Tanked After Phase 2 Study Failed

Summit Therapeutics (SMMT) announced Wednesday morning that its Phase 2 study of ezutromid failed to meet its primary or secondary endpoints.

Summit Therapeutics gapped open dramatically lower Wednesday morning, but moved in a narrow range throughout the session. The stock closed down by 10.10 at $2.55 on the highest volume of the year. Summit Therapeutics sank to a new low for the year.

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