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Summit Therapeutics reported weak Q3 2025 earnings with deeper losses, but directors bought millions of dollars worth of shares. The stock price has fallen 8.73% in 30 days and 26.62% in 90 days, but its three-year total shareholder return is over 600%. Analysts see major upside, but fair value models flash caution and fundamentals are loss-making. The price-to-book ratio of 69.2x is richly priced compared to peers and the wider biotech space.

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