Nvidia's remarkable 137% share growth this year has turned heads, but it's dwarfed by the astonishing 900% surge of Summit Therapeutics (NASDAQ: SMMT), a biotech company that's making waves in the fight against cancer. While Nvidia's chipmaking prowess fuels AI advancements, Summit is quietly revolutionizing cancer treatment with its lead candidate, ivonescimab.

Ivonescimab's recent triumph in a phase 3 trial, where it outperformed Merck's blockbuster Keytruda in treating non-small cell lung cancer (NSCLC), has catapulted Summit into the spotlight. This drug's potential to capture a significant share of the NSCLC treatment market could translate into substantial revenue, given Keytruda's $25 billion in annual sales.

But is Summit's stock still a smart investment? With a market cap of $17 billion despite no marketed drugs, the company's valuation reflects high expectations. While its cash reserves, bolstered by recent fundraising, ensure operational sustainability until 2025, the stock's vulnerability to pipeline setbacks cannot be ignored.

For biotech investors with an appetite for risk, Summit's promise could yield rich rewards if ivonescimab continues its winning streak. However, those considering a $1,000 investment in Summit should weigh this against The Motley Fool Stock Advisor's selection of top stocks, which have the potential to deliver substantial returns in the coming years.

In the high-stakes world of biotech, Summit Therapeutics is a tale of two possibilities: a transformative cancer treatment or a cautionary tale of high expectations. Only time will reveal which narrative prevails.