** Summit Therapeutics' SMMT.O shares up 4% at $13.57 in premarket trading on Thurs after pulling planned equity raise

** Biopharma oncology firm withdraws proposed stock offering citing market conditions, per SEC filing

** SMMT shares closed down 8.7% at $13.05 on Weds after co late Tues launched $500 mln offering to fund its lung cancer drug ivonescimab

** Through Weds, shares down 25% YTD and 55% below their 2026 intraday high of $29.23 hit on Apr 20

** Avg rating of 18 analysts is "buy"; median PT $32, according to LSEG data