I'm bullish on SMMT due to recent significant investments by both the CEO and institutional investors, which suggests strong confidence in the company's future. With competition against Keytruda heating up, I believe SMMT is poised for a noteworthy climb in the coming months.

Given the recent impressive performance of Summit Therapeutics' ivonescimab in clinical trials, I anticipate that the stock could still face significant risks due to its speculative nature and lack of approved products. I believe this volatility makes SMMT a viable short opportunity as investors reassess its inflated valuation.