Core Viewpoint - Summit Therapeutics reported a narrower loss per share in Q1 2025 compared to estimates, but still lacks any marketed products, resulting in no quarterly revenues [1][2]. Financial Performance - The company reported a loss per share of 9 cents, which is better than the Zacks Consensus Estimate of a loss of 10 cents, but wider than the 6 cents loss from the previous year [1]. - Adjusted research and development expenses increased by 65% year over year to $47.1 million, primarily due to rising clinical costs [4]. - Adjusted general and administrative expenses surged 95% year over year to $8.6 million, attributed to higher headcount and commercial readiness efforts [4]. - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments totaling $361.3 million, down from $412.3 million as of December 31, 2024 [5]. Pipeline Developments - Summit has one pipeline drug, ivonescimab, currently undergoing three late-stage studies for non-small cell lung cancer (NSCLC) [6]. - Positive results were reported from the Akeso-sponsored phase III HARMONi-6 study, showing significant improvement in progression-free survival compared to BeiGene's Tevimbra [7]. - The HARMONi-6 study is notable as the first late-stage study in NSCLC to demonstrate significant improvement over a PD-(L)1 inhibitor combined with chemotherapy [8]. - The company is also conducting the HARMONi-3 study, which compares ivonescimab plus chemotherapy against Merck's Keytruda [8]. - Akeso has secured approval for ivonescimab in a second indication based on HARMONi-2 results, although the interim overall survival analysis was not statistically significant [9]. - Summit is exploring partnerships for ivonescimab development across multiple disease areas, including a collaboration with Pfizer to evaluate the drug in combination with several of Pfizer's antibody-drug conjugates [10]. Stock Performance - SMMT's stock has surged 38% year to date, contrasting with a 2% decline in the industry [2].

Summit Therapeutics (SMMT) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Speaker0 Thank you for standing by. Hello, and welcome to the Summit Therapeutics Q1 twenty twenty five Earnings Conference Call. I would now like to turn the call over to our Chief Business and Strategy Officer, Dave Van Carrs. Please go ahead, sir. Speaker1 Good afternoon, and thank you for joining us. A press release was issued earlier this afternoon and is available on the homepage of our website. Our Form 10 Q was also filed and ...

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ FORM 10-Q _________________ (Mark One) or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-36866 Summit Therapeutics Inc. (Exact name of registrant as specified i ...

Summit Therapeutics Reports Financial Results and Operational Progress for the First Quarter Ended March 31, 2025 Ivonescimab in Combination with Chemotherapy Achieves Statistically Significant Superiority in PFS vs. Tislelizumab (PD-1 Inhibitor) Plus Chemotherapy in First-Line Treatment of Patients with Advanced Squamous NSCLC in HARMONi-6 Study Conducted by Akeso in China Enrollment Continues in Global Phase III Trial HARMONi-3 in First-Line Treatment of Patients with Metastatic NSCLC Ivonescimab Receives ...

Summit Therapeutics Inc. SMMT on Friday noted that Akeso, Inc. announced the Chinese Health Authorities, the National Medical Products Administration (NMPA) approved ivonescimab for a second indication based on the results of the Phase 3 trial, HARMONi-2 or AK112-303.On Friday, Summit Therapeutics stock closed almost 30% lower at around $23.47.HARMONi-2 evaluated monotherapy ivonescimab, PD-1/VEGF bispecific antibody, against monotherapy Merck & Co Inc’s MRK Keytruda (pembrolizumab) in patients with locally ...

Summit Therapeutics Inc SMMT stock is trading lower on Friday.On Thursday, Summit Therapeutics’ partner Akeso Inc. received the U.S. Food and Drug Administration (FDA) approval for its PD-1 monoclonal antibody, penpulimab-kcqx, in combination with cisplatin or carboplatin and gemcitabine for the first-line treatment of adult recurrent or metastatic non-keratinizing nasopharyngeal carcinoma (NPC).FDA also approved penpulimab-kcqx as a single agent for adults with metastatic non-keratinizing NPC with disease ...

Nobody has more information about a company than its insiders, especially its executive management team. That's why when one of them buys more shares, it sometimes gives individual investors insights into the company's prospects. If those with the most knowledge think it's worth loading up on the stock, maybe other investors do the same -- or so the argument goes.That brings us to Summit Therapeutics (SMMT 8.47%), a clinical-stage biotech whose co-chief executive officers recently bought more shares of the ...

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. This article is intended to provide informational content and should not be viewed as an exhaustive a ...

Shares of lung cancer-focused biotech Summit Therapeutics (SMMT 10.72%) rallied 16.6% at its highs of the day before settling into a 10.4% gain on Thursday as of 3:54 p.m. EDT, even though the broader markets were down significantly on the day at that time, including the SPDR S&P Biotech ETF (XBI -4.37%), which was down 4.4%.The interesting news for Summit was that two insiders exercised warrants on Summit's stock yesterday, which most interpreted as being highly bullish. However, it could actually mean the ...

Summit Therapeutics (SMMT -2.25%) stock did better than a lot of other equities during an otherwise forgettable trading session on Wednesday. In contrast to other titles that fell notably, Summit more or less kept pace with the S&P 500 (^GSPC -1.12%), managing to dip by a relatively modest 2.25% in price. Some investors, at least, were cheered by an analyst's recommendation upgrade on the stock.The high potential of a licensed drugWell before market open, Citigroup pundit Yigal Nochomovitz changed his recom ...