A few days ago, the company Summit Therapeutics announced that it had conducted a clinical trial for a drug to fight lung cancer. A successful clinical trial, which literally caused the company’s share price to explode.
And if hundreds of thousands of people could benefit from this new miracle treatment, we can easily imagine that Robert Duggan, the boss and owner of the company also celebrated this announcement. The reason ? Shares of Summit Therapeutics rose 272%, allowing the latter to quite simply double its fortune, going from 3.25 billion dollars in assets to 7.5 in just 24 hours.
A fortune doubled in just 24 hours
Another man, Maky Zanganeh, who owns 5% of the company’s capital, also had a very good day, increasing his fortune to $500 million. Questioned by various media specialized in economics, Duggan simply commented on the news, saying that these recipes weren’t so bad after all, for a day of hard work.
These crazy figures were made possible by the success of their brand new drug combining the benefits of immunotherapy (a practice aimed at fighting cancer) and the prevention of the development of new, infected blood vessels. And the results are much more effective than those presented by the drug Keytrudawhich is currently the only one available in this segment.
A drug that could change everything?
This testing phase should not, however, obscure the fact that this treatment is still in development and that, for the moment, further research is necessary to confirm its interest. There is no doubt, however, that in the event of a real and convincing medical breakthrough, everyone would benefit: the financiers at the head of the company and the patients concerned.
