Dj Inovio Pharmaceuticals Inc. Stock Slips 9.8%, Underperforms Competitors

Investing.com -- According to Jonathan Krinsky, a Technical Strategist at BTIG, the healthcare sector has emerged as the top performer in the S&P 500 this year. The last time the healthcare sector led the market was in 2018, when it gained approximately 5% compared to the S&P 500's return of -6%. That year was characterized by heightened volatility due to geopolitical uncertainty, a scenario that seems to be repeating itself.

Despite it being too early to predict if the healthcare sector will maintain its lead throughout 2025, Krinsky suggests that it currently serves as a somewhat defensive group. This is likely due to its multi-year downtrend compared to the S&P 500. However, the sector is on the verge of reaching a multi-month relative high, which implies it may continue to perform well.

Krinsky also noted that the sector's exchange-traded fund (ETF), The Health Care Select Sector SPDR Fund (XLV), is on the brink of breaking out. He highlighted several stocks within the sector that are showing promising signs. Johnson & Johnson (NYSE:JNJ) is nearing a breakout, while Gilead (NASDAQ:GILD) Science appears to have additional growth potential. Additionally, Cardinal Health , Inc. (NYSE:CAH) is approaching its highs following a robust uptrend.

GE HealthCare (NASDAQ:GEHC) Technologies Inc. is identified as a 'pre-breakout candidate', while previous resistance for Bristol-Myers Squibb (NYSE:BMY) is now transforming into support. These observations by Krinsky provide a snapshot of the current state of the healthcare sector in the S&P 500.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Summit Therapeutics Inc. (NASDAQ: NASDAQ:SMMT) stock climbed 5% after the biopharmaceutical company announced a clinical trial collaboration with industry giant Pfizer Inc. (NYSE: NYSE:PFE). The partnership is set to evaluate Summit's ivonescimab in combination with Pfizer's antibody drug conjugates (ADCs) for the treatment of multiple solid tumor types.

The collaboration aims to leverage ivonescimab, Summit's investigational PD-1/VEGF bispecific antibody, with Pfizer's ADCs to potentially enhance care standards for patients with serious unmet medical needs. The studies will focus on determining the safety and anti-tumor activity of these combinations across various solid tumor settings.

Summit's Co-CEOs, Bob Duggan and Dr. Maky Zanganeh, expressed optimism about the collaboration's ability to accelerate the development of ivonescimab, particularly in non-small cell lung cancer and other solid tumors. They emphasized the importance of novel mechanisms in making a significant impact for cancer patients and physicians.

Pfizer's Megan O’Meara, M.D., Head of Oncology Early Stage Development, echoed the sentiment, highlighting the partnership's role in advancing the exploration of ADCs in differentiated combinations with a bispecific antibody. The collaboration represents an innovative approach to targeted cancer treatments, aiming to transform therapeutic options for people living with cancer.

Under the agreement terms, Summit will supply ivonescimab for the studies, while Pfizer will manage the study operations. Both companies will oversee the trials, retaining their respective rights to their products. The clinical trials combining ivonescimab with Pfizer’s vedotin ADCs are scheduled to commence in the middle of this year, with more details to be released later.

Investors have responded positively to the news, reflected in the uptick of Summit's stock price. The collaboration with Pfizer not only validates Summit's research but also provides a pathway to potentially expedite the development of its cancer treatments.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.