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Summit downgraded after Merck data for sac-TMT (SMMT:NASDAQ)

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H.C. Wainwright downgraded Summit Therapeutics (SMMT) to Neutral from Buy, citing overhang from a new late-stage trial readout for sac-TMT, a lung cancer therapy developed by Merck (MRK) in partnership with Chinese company Kelun-Biotech.

According to an ASCO abstract on

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